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ECB press-conference sends EUR lower

The European Central Bank didn't announce any new easing measures so far, but demonstrated readiness to act further if needed. 

  • ECB promises to start buying ABS soon, program will last at least 2 years
  • Easing measures will inflate the ECB balance sheet to the 2012 levels
  • ECB is unanimous in commitment to add stimulus if needed
  • Staff and committees are tasked to prepare further measures
  • Monetary policy responds to weaker inflation
  • Economy: surveys indicate weaker growth momentum
  • Risks from geopolitics and lack of reforms remain to the downside
  • There are indications for downwards revisions to economic forecasts


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