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9 Jan 2014
Flash: ECB “Firmly Reiterates” Forward Guidance – TDS
FXstreet.com (Guatemala) - Strategists at TD Securities commented on the ECB.
Key quotes:
• The ECB’s first meeting of 2014 managed to make no fundamental change, but still get the market impact they likely wanted to reinforce of lower rates and euro.
• The ECB added that it “strongly emphasizes” that the accommodative stance will remain as long as necessary and “firmly reiterates” the forward guidance to keep rates “at present or lower levels for an extended period of time.”
• Proposal on publishing Minutes that guard independence of Members to come “soon” while more information on AQR to come by end-January.
Key quotes:
• The ECB’s first meeting of 2014 managed to make no fundamental change, but still get the market impact they likely wanted to reinforce of lower rates and euro.
• The ECB added that it “strongly emphasizes” that the accommodative stance will remain as long as necessary and “firmly reiterates” the forward guidance to keep rates “at present or lower levels for an extended period of time.”
• Proposal on publishing Minutes that guard independence of Members to come “soon” while more information on AQR to come by end-January.