Mario Draghi faces one of the most contentious policy meetings of his European Central Bank presidency on Thursday as he prepares to ramp up monetary stimulus again despite skepticism from the euro area’s biggest economies.
European Central Bank policy meeting is today – preview collection in no particular order.
✅ Announcement due at 1145gmt
✅ ECB President Draghi’s press conference at 1230 GMT
✅ ECB meeting preview – & the risk side for the euro
✅ All eyes are on the ECB this week
✅ The question is not if but how much will the ECB deliver this week – Danske Bank
✅ ECB meet Thursday 12 September 2019 – preview
✅ A euro slump on the ECB is a buying opportunity – Morgan Stanley
✅ Main scheduled event of the week: ECB rate meeting
✅ Its European Central Bank policy meeting day – preview
✅ The reaction to the ECB may be more important than the details
✅ EUR/USD slumps back below 1.1000 as the clock ticks towards the ECB
✅ ECB preview: The market might be looking for too much
✅ Big German banks warn against further rate cuts (expected from the ECB this week)
✅ Risk for EUR is positive for ECB meeting – BAML
✅ Goldman Sachs preview the ECB meeting Thursday – significant easing
✅ 3 reasons EUR has bottomed against the USD and yen
✅ 3 reasons for EUR/USD to fall over the next 3 months
The mood is expected to be tense when the 25-member Governing Council discusses how to respond to fading growth and inflation, according to officials who spoke on condition of anonymity. While interest rates will almost certainly be cut further below zero, governors from nations including Germany, France and the Netherlands have warned they see no compelling need to resume quantitative easing.
The blows of trade wars and Brexit have forced Draghi into an about-turn just nine months after he signaled the ECB was done cutting rates and buying debt. It’s a remarkable shift, weeks before he’s due to be replaced by former International Monetary Fund chief Christine Lagarde.
Yet his impending exit, and the arrival of several new governors on the council this year, appears to have energized the doubters over the wisdom of his radical measures. The last major opposition Draghi faced was in January 2015 when he pushed through large-scale asset purchases.
