Key Points The ECB is expected to announce massive monetary easing on December 3rd. ECB President Mario Draghi has already under-promised and under-delivered EUR/USD has potential of a significant fall regardless of Fed hike expectations German bunds still have value despite elevated prices Background The European Central Bank is missing its single inflation target of “2% or a bit below” on headline inflation in the past two years. The Frankfurt based institution has already taken the historic step of setting a negative deposit rate in June 2014 and further lowering it to -0.20% in September 2014. Stubbornly low ... (full story)