Tag Archives: ECB

Markets Dance to the Tune of the ECB

The European Central Bank (ECB) followed through on ECB president Mario Draghi’s pledge that it would re-expand its balance sheet by formally launching a quantitative easing (QE) bond-buying program which included sovereign bonds. In essence, it’s €60 billion/month from March … Continue reading

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7 Things You Need To Know About Today’s ECB Quantitative Easing Announcement

1. Size and duration: Purchases totalling €60bn per month, starting in March 2015 and lasting until September 2016, giving a total size of €1.1trn. This is much higher than expected. Note also the phrase that the programme will continue until … Continue reading

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How Did Switzerland and India Surprise Currency Markets?

Both the Swiss and Indian banks surprised the markets last week by moving between meetings – upsetting the de facto status quo of recent years where policy moves were only announced at formal meetings. The Swiss National Bank (SNB) dropped … Continue reading

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Europe’s Banks – Great Expectations or Groundhog Day?

Consensus expectations for earnings in the Eurozone are reaching new highs, with Earnings Per Share (“EPS”) growth expected to be 15% in 2015. To be fair, we have heard bullish forecasts like this for a number of years now. While … Continue reading

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ECB and QE – Doomed to Fail Before It Starts?

Today, the December inflation number for the eurozone area was reported as having fallen -0.2%, compared to November’s +0.3% rise. Yes, that’s right! Prices across the whole eurozone area are falling. In reality, most of the fall has been driven by the extraordinary fall … Continue reading

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