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Write a Squawk to Carletto
  • Squawk / 08 March 2018 at 12:52 GMT
    Head of FX Strategy / Saxo Bank
    ECB statement drops the easing bias, sees euro firming in kneejerk reaction. The following sentence from the prior ECB policy statement: “If the outlook becomes less favourable, or if financial conditions become inconsistent with further progress towards a sustained adjustment in the path of inflation, the Governing Council stands ready to increase the asset purchase programme (APP) in terms of size and/or duration”.

    That elimination appears to remove the ECB's intention to grow QE if inflation doesn't arrive - and the implication is that it doesn't believe expanded QE would get it where it wants on inflation anyway. The language leaving a "soft" September deadline for ending QE purchases (soft because they reserve right to extend if necessary) remains unchanged.

    Draghi presser up shortly at 1430 CE
    Read the Squawk
    08 March
    Carletto Carletto
    Jim, you would be right if there was a base to debase. Cash isn't convertible to anything. It's value is more ephemeral. Its lies more in its...
    08 March
    Jim Earls Jim Earls
    You can not convert your cash to real physical Gold-Silver-Platinum?
    08 March
    Carletto Carletto
    You can buy it. But not convert it. What I think Jim was refering to, is a physical standard as opposed to a fiat currency.
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