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All eyes on ECB monetary policy meeting - BNZ

FXStreet (Łódź) - Spiros Papadopoulos, economist at BNZ, suggests that th eECB shouldn't make any unexpected moves at its monetary policy meeting this Thursday.

Key quotes

"With interest rates at the zero bound, there is nothing that practically can now be done on rates unless the corridor between the deposit and refinance rates is widened. We do not look for this to happen."

"The ECB is hoping that the results of the banking stress tests and AQR will see Eurozone banks acquire enough capital to be able to lend freely to corporates, which then leaves the ABS scheme as a cheap form of funding for further lending."

"However, this will only become clear in December when the second TLTRO auction is held. Until then, the ECB will be crossing its fingers and hoping."

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