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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.
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Free AccessNo Huge Changes, But Statement Accommodates New Strategy Review
The ECB's policy statement (found here: https://www.ecb.europa.eu/press/pr/date/2021/html/...~48dc3b436b.en.html ) makes no huge changes to the policy approach, but does accommodate for the recent strategy review:
All policy rates unchanged, as expected
- Bank revises forward guidance, newly includes the phrase "ensure that inflation stabilises at its two per cent target over the medium term."
- This replaces old language of "ensure that inflation moves towards its aim in a sustained manner, in line with its commitment to symmetry."
- Retains pace of asset purchases programme at €20bln/month, reiterates that the PEPP envelope can be recalibrated if required and that they are to reinvest maturing PEPP bonds at least through the end-2023.
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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.