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What to Expect from the ECB
The ECB meets tomorrow. We do not attribute any significance to the fact that the meeting will be held in Cyprus. A couple times a year, the ECB meets outside of Frankfurt. There are three key elements of tomorrow's meeting, none of which entail a change in policy. The ECB will provide some more details of its stepped up asset purchases plan that is expected to kick off as early as next week. The ECB staff will provide new inflation and growth forecasts. Even if not in Draghi's opening statement, we expect reporters will likely seek some insight into Greek developments. There are many technical and logistic ... (full story)