Halister News

(Bloomberg) -- ECB offered “nothing” this week, though QE extension is coming; expect asset purchases to be lifted by EU20b to EU100b per month, depo rate to be cut by 10bps to -0.50% in Dec. meeting, writes RBS strategists including Giles Gale in a client note.

• Draghi said data didn’t warrant a move “for the time being”, highlighted Praet’s analysis that inflation lacks “convincing upward trend”; opening statement also said QE to continue until ECB sees sustained adjustment in path of inflation
• ECB is “too sanguine” on the real data, still expect growth, inflation in Euro zone to disappoint ECB forecasts in coming weeks