Can you afford to take that chance?
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The ECB Dashboard: A question of delivering
Following the recent comments of various ECB Governing Council members about the lack of urgency in re-starting QE and strong market expectations for this, the risk to EUR/USD after the meeting are tilted to the upside. Another deposit rate cut (likely 20 basis points) and generous pricing of Targeted Longer-Term Refinancing Operations (cheap loans) seem to be set in stone, but it will be the QE (non-)announcement and size of the programme that will determine the EUR/USD price action. As per our ECB Preview, we look for a 20bp depo rate cut, a small tiering system, a repricing of TLTROs and the restarting of QE (EUR ... (full story)