FXStreet (Edinburgh) - Kasper Kirkegaarr, Chief Analyst at Danske Bank, notes today’s ECB meeting will be the most relevant event in the euro bloc.
“The main event is the ECB Governing Council meeting where we expect the ECB to remain on hold”.
“The meeting follows after the ECB announced a significant easing package followed by further details about these measures”.
“In light of this, we expect limited market impact from today’s meeting but Draghi should continue to have a dovish stance, as inflation has declined to a new cycle-low and as the latest activity data have been weak”.
“Expect Draghi to repeat that the ECB is committed to unconventional instruments but to also stress that it takes time before the impact of the June easing measures is seen”.