MNI BRIEF: Canada Debt Management Strategy Highlights

CANADA BUDGETS 2024-25 DEFICIT OF CAD39.8B OR 1.3% OF GDP

MNI BRIEF: BOC's Macklem - Inflation Moving In Right Direction

MNI INTERVIEW: IMF's Adrian Warns Of Inflation Risk To Markets

MNI EM China Daily Summary: Tuesday, April 16

MNI BRIEF: Industrial, Service Rebound Buoys China's Q1 GDP

AUDUSD Falls To Fresh 5-Month Low, USDMXN Rises Above 17.00

EZ/UK Bond Supply Calendar: Greece, Italy, UK, Germany Wednesday

EZ/UK T-Bill Calendar: Portugal, EU Auction Wednesday

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ECB Preview - September 2020: Uneventful, But Still 'Live'

MNI ANALYSIS: ECB Preview - September 2020

Uneventful, But Still 'Live'

  • No material changes in monetary policy are expected at this week's GC meeting.
  • Markets will be focused primarily on the ECBs response to recent EUR strength and the Fed's adoption of AIT.
  • While there may be some adjustment to the staff macroeconomic projections, provided that the baseline is still intact there will be no urgency to ease further at this stage.
  • The ECB will likely need to readdress its monetary stance by end-year with PEPP being the first port of call for delivering further stimulus.

This week's Governing Council meeting should be relatively uneventful, but still 'live'. Having successfully quashed financial fragmentation risks through successive upgrades to the PEPP and with economic uncertainty still high, the ECB is likely to sit on the sidelines for now until there is more clarity on the recovery path. However, issues such as the recent EUR strength, build-up in excess liquidity and the sufficiency of the current PEPP envelope, suggest that the risks for this meeting are still tilted towards further easing.

For the full publication please see: MNI ECB PREVIEW: September 2020

Central Bank PreviewHomepageECB - PreviewCentral Bank ReportsMarkets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.