Fed And Ecb, Bridging From A “Mid-Cycle Adjustment” To An “Impactful And Significant” Package.
The minutes from the latest ECB meeting suggest that the ECB is likely to proceed with a full set of measures in September, confirming not only the indications from President Draghi following the meeting but also the very latest statements by Olly Rehn, calling for the need for an “impactful and significant” package.
This part of the minutes probably offering more insights into the next ECB stance is the one stating the preference for a package of measures. “A combination of instruments with significant complementarities and synergies, since experience had shown that a policy package – such as the combination of rate cuts and asset purchases – was more effective than a sequence of selective actions.”
Download the complete white paper at the link beneath Related Files