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There’s a pretty strong consensus in the markets that something will come out of the ECB monetary policy meeting tomorrow. The question that will move the markets is: what?
There are quite a few potential measures that the ECB could take, and they all have different implications.
Before going over the options on the table, there is something unique about this meeting that could sway the results. This is the last meeting to be chaired by Mario Draghi, before Christine Largarde takes over.
Generally, it would be expected for the outgoing President to keep policy in line so new leadership can have a “clean slate” to enact their policy. But there are many analysts pointing out that Draghi wants to put forward something significant for his last meeting, to hand over the European economy in the best setting possible as he sees it.
The major question is whether the bank will cut ...
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