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Forex Flash: Draghi's 'whatever it takes' pledge faces Italian rebellion - NAB

According to NAB, after the deadlock in the Italian Senate, which further confirms political instability, "it will be hard to see just how ECB President Draghi’s ‘whatever it takes’ pledge with respect to preserving the sanctity of the euro can extend to writing as blank cheque in favour of the Italian fiscal authorities" NAB says. The bank adds "any agreement to buy Italian debt can’t come without Italy submitting to the conditionality of the ECB’s as yet inactivated OMT programme."

New Zealand 1Q RBNZ Inflation Expectations (YoY) 2.2%

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Forex Flash: Bernanke testimony may provide hints about QE’s future - Standard Chartered

Fed Chairman Bernanke testifies before Congress on 26-27 February. Standard Chartered research analysts believe that Bernanke "is widely expected to defend the benefits of the Fed’s quantitative easing policy" they say. The bank expect no change in policy, although "his speech could provide hints about QE’s future" they add.
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