The staff projections are coming out and don;t make good reading;

Investment

  • 0.7% vs 1.1% prior 2014
  • 1.4% vs 3.1% prior 2015
  • 3.2% vs 3.98% prior 2016

Unemployment

  • 11.6% unch 2014
  • 11.2% unch 2015
  • 10.9% vs 10.8% prior 2016

Exports

  • 3.2% vs 3.1% prior 2014
  • 3.2% vs 4.5% prior 2015
  • 4.8% vs 5.3% prior 2016

Imports

  • 3.3% vs 3.5% prior 2014
  • 3.7% vs 4.5% prior 2015
  • 4.9% vs 5.3% prior 2016

Implied forecast EUR/USD

  • 1.33 vs 1.36 prior 2014
  • 1.25 vs 1.34 prior 2015
  • 1.25 vs 1.34 prior 2016

As we suspected prior to the meeting, not much green to be found in the new projections