- ECB will look at incoming economic data then take a decision on interest rates
- Effectiveness of a rate cut is limited because transmission mechanism impaired.
I mentioned earlier in the comments that I don’t see the usefulness of a rate cut and the subsequent comments from today’s ECB report show that they are struggling to get those rates filtering through.
My take is that these comments are not condusive to getting a rate cut next week.
The euro is also seems to be coming to that conclusion as we move from session lows of 1.2974 to 1.3014
Vitor Constancio is still going
- Continues to look 360 degrees for options
Eh?? My mum was always telling me that what I was looking for was usually right under my bloody nose.
