FXStreet (Bali) - Nomura has revised up the probability of QE being undertaken by the ECB in 2015 to 45% (from 35%).
"We also revise up the probability of QE being undertaken by the ECB in 2015 to 45% (from 35%), with March 2015 as the earliest time. We also increase the probability of QE taking place this year, to 30% from 25%."
"As we described in great detail in our special report on QE (see What would QE look like in the euro area?, 17 April 2014), we believe the programme most likely to be implemented by the ECB would be what we described as “Credit and Quantitative easing” (CQE)."
"This would include both public and private sector securities, with purchases totalling EUR500bn in the first 12-month programme."
"We believe that the next round of easing will unlikely change the economic trajectory of the euro area over the coming months and remain resolutely below consensus on both our growth and inflation projections for the region."