Ecb Will Likely Revise Growth up and Inflation Down
After the announcement of the expanded asset purchase programme (quantitative easing - 'QE') in January, the European Central Bank (ECB) is widely expected to refrain from further new measures in the near term. Thursday's post-meeting press conference will likely focus on the updated ECB staff forecasts for the euro-area economy; Standard Chartered research notes: We expect growth to be revised upwards for 2015 and 2016, and inflation to be revised downwards in 2015. In addition, President Draghi will likely further clarify the QE programme, and may be questioned over how the ECB intends to deal with negative yields and a potential shortfall in sellers; e.g., of German Bunds. He is also likely to comment on Greek banks' access to ECB liquidity operations.
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