JP Morgan: On Hold. QE extension in December
Morgan Stanley: On Hold. Bullish for the Euro
Credit Agricole: On Hold. Possible Euro upside
Barclays: To stay onhold for now. Neutral for EUR/USD
Danske: To keep their bullets for now. No change in QE for September
BofA: Extention for QE period. Likely to see higher Euro
Citi: Expected prolong QE extension with at least 6 months after March 2016. Rate decrease down to -0.10% in March 2017, as the deposit rate decrease down to -0.5%. Correction of the mechanism for integration of the stimulus.
All banks mostly agree that during today's meeting much is not expected by Mario Draghi in regards to change in the current policy stand. However, it is widely expected that he will continue to communicate that economic conditions are improving in the Eurozone, from Brexit and other factors. The monetary policy remains accommodating to sustain stability. All available tools will be used to stimulate the economy to improve employment and to raise the inflation. All Participants will watch and listen for any clues or hints about the future changes to the policy in December or next year.
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