5 Mar 2015
All the attention on Draghi – Danske Bank
FXStreet (Edinburgh) - Senior Analyst at Danske Bank Lars Christensen remarked the significance of today’s press conference by the ECB President Mario Draghi.
Key Quotes
“On ECB day much attention will be on Draghi’s press conference at 14:30 CET”.
“While markets no doubt will scrutinise every word, we doubt he will say anything that will change our basic assessment of the QE programme”.
“We already know the sizes, pace and areas of bond purchases, while the actual timing and ECB’s way of bidding on the bonds remain unknown”.
“We think it is more likely that we will discover these unknowns along the way rather than Draghi clarifying uncertainties today”.
“So while less revealed details may come as a small disappointment, bond buying will most likely start next week and the liquidity injection will take place putting further tightening in peripheral spreads”.
Key Quotes
“On ECB day much attention will be on Draghi’s press conference at 14:30 CET”.
“While markets no doubt will scrutinise every word, we doubt he will say anything that will change our basic assessment of the QE programme”.
“We already know the sizes, pace and areas of bond purchases, while the actual timing and ECB’s way of bidding on the bonds remain unknown”.
“We think it is more likely that we will discover these unknowns along the way rather than Draghi clarifying uncertainties today”.
“So while less revealed details may come as a small disappointment, bond buying will most likely start next week and the liquidity injection will take place putting further tightening in peripheral spreads”.