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Hardy: The key to lowering the euro
“I expect to see nothing concrete from the ECB”. So says Saxo Bank’s John Hardy but adds that given December’s CPI data - the lowest in history - the bar appears rather low for dovish "cheap talk" to have a bit more impact this time around.
The European Central Bank's governing council is set to meet Thursday, but isn't expected to take any radical action to boost economic growth. It surprised markets by cutting interest rates in November after inflation dropped below 1 percent for the first time since the immediate aftermath of the global financial crisis.
The euro is now trading close to a 52-week high against the dollar and analysts are waiting to see if the central bank will take any action to bring the common currency down. The key for this, according to John, is “some sort of QE.”
01:37 minutes
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