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06.09.2019 16:09

ECB: Now is the time for action – Danske Bank

Danske Bank's analysts expect the long-awaited ECB meeting on 12 September to set the scene for months and potentially quarters to come.

  • “The question is not if the ECB will announce new initiatives but how much it will deliver.
  • We expect the ECB to announce (1) a 20bp cut in the deposit rate (other key rates unchanged) and that the extended forward guidance ('at present or lower...well past the horizon of net asset purchases') will remain; (2) a 12-month QE restart of EUR45-60bn per month, albeit also acknowledging the downside risks given the recent hawkish communications from a few Governing Council members; and (3) a tiering system.
  • The package is not likely to be a silver bullet for markets. The FX market is set to keep its focus on the rate cut, while the fixed income markets focus on the size of QE.”


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Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
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Sydney 21:00 06:00 00:00 09:00 00:00 09:00
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