Market comment

Will Draghi deliver?


We believe hawkish comments from some ECB governing council members have led markets to under-price the likelihood of a sharp stimulus today. The consensus is that the ECB will cut the deposit rate to -0.5% (together with a tiering system for banks), restart quantitative easing (QE) with €30bn of monthly asset purchases and with tweaks to forward guidance and issue/issuer limits.

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Sep 12 2019, 08:25 IST/BST