- Governing council likely to wait until December to study monetary policy changes
- TLTRO will look like QE, improve bank balance sheets
MNI have the scoop from their “sources” who say that the ECB is pleased with the early results from the policy change in June and that they will likely put further policy changes on hold until at least December, unless they get some unexpected negative economic news.
One source said;
“I don’t see October or November being very important months. October will be only half way in implementing the TLTRO. In October we have the fuller understanding and analysis of what we have done so I would expect discussion to conclude at the end of the year.”
The market is pretty much expecting that there will be no further policy moves until the TLTRO’s kick in but it will be the data that could have a say in that.
