ECB’s ABS still surrounded by uncertainty – Investec

By FXstreet.com | August 08, 2014 AAA

FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec, assessed the recent ECB gathering.



Key Quotes



"An on-hold Bank of England yesterday did little to move the pound as expected and all eyes now look to next week's Quarterly Inflation Report. The European Central Bank also held all key rates although President Draghi laid out the case for a weaker Euro saying economic conditions and diverging monetary policy between the US and the Euro zone back a weaker common currency".



"President Draghi also said the Governing council are stepping up preparations for an Asset Backed Securities program although since the market has no idea how big such a program would be, or whether it would eventually go ahead, it is difficult to gauge if it would have much impact on the single currency."



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