This page has been archived and commenting is disabled.
ECB Keeps Rates Unchanged, No QE Announcement Yet
As expected by most analysts, the ECB kept its rates unchanged for all three facilities. From the press release:
ECB Monetary Policy Decisions
At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.05%, 0.30% and -0.20% respectively.
Further monetary policy measures will be communicated by the President of the ECB at a press conference starting at 2.30 p.m. CET today.
This is hardly surprising, although as HSBC accurately observed, if the ECB really wants to incentivize banks to sell their government bond holdings, it should have actually pushed rates higher.
In any event, as the ECB also noted, "Further monetary policy measures will be communicated by the President of the ECB at a press conference starting at 2.30 p.m. CET today" ?which is a signal that a much bigger announcement is coming in 45 minutes when Draghi begins to speak.
»
- 6349 reads
- Printer-friendly version
- Send to friend
- advertisements -
Creditor nations are about to get fucked*.
*And not in the way most people like to fuck -- but in the way that Conchita Wurst likes to fuck.
Mario stop the comedy and start printing
FYI, not changing the rates is going to piss off a lot of people
This I feel is appropriate --
https://www.youtube.com/watch?v=ZsQ4KlGX4PM
(Safe for work, but turn your volume down)
Draghi just wants the spotlight during his press conference to announce the final stage of financial collapse. 5 years from now......."did we really need all that fake money or should we have just rioted and took out all the global politicians in place who fucked us royally?"
No Qualitative Easing? Come on the announcement is right around the corner.
o-day p0rn, brought 2 you by Econo-Cock-Butt dot com
So every stock to $1000 then?
What a riot
Algos programmed to pump futures no matter what the news
So step up and get ya sum. Should be some good ES opportunities today.
You can hear a pin drop!
More free money for the 1% everyone else nadda. What a fucking joke this has all become.
Life is not a joke, unless jokes are your life.
Currencies getting jittery, lol.
Bukakke time!
"This is hardly surprising, although as HSBC accurately observed, if the ECB really wants to incentivize banks to sell their government bond holdings, it should have actually pushed rates higher. "
only that the ECB does not operate in vacuum. Whenever rates are higher, USDs flood in. And complain, afterwards, that there was no mutualisation of debt "as they assumed"
don't forget how money market fund managers rushed to get American CDs into all kinds of Squid-embellished peripheral bonds of countries they had only a vague notion of
the hilarity of the whole thing is stunning. megabanks talk all the time that this QE is utterly unnecessary for the eurozone... but they want moar
in the same way as the typically American psychological scars regarding deflation, which leads American megabanksters to kneejerk into this "print some"... and then note that it is actually not necessary. But print, nevertheless! But don't expect that it will change anything. Did you print, now? Do it! No, it does not matter.... Print!
and yet... way more then half of the attention given to this announcement is completely devoted to day-to-day movements and volatility. another sign that speculation is getting beyond the size that would give us healthy markets, independently from all the manipulation we are already experiencing
There's no business like show business, like show time is no time for changing your mind.
sometimes you give me the impression of being a 'bot. with a load of somewhat pertinent and yet vague "bon mots" and phrases
No matter the decision, it will all end badly. What kind of system requires the constant adjustments? A: A highly fragile one. ;-)
It would be surprising if QE were enacted since that is not the purpose of the ECB/Euro; in fact, I'm leaning towards nothing changing. We came, we talked, we enjoyed fine food, fine hookers, fine... We will re-evaluate (rinse, repeat)...
well, you and I walk this way. walking is a "system", too, and requires constant adjustment. highly unstable, and yet we use it daily. otherwise, I agree, except about the "end"
It comes down to what the majority of people want. And the majority just want to focus on their daily lives, save for the future, enjoy their retirement at some point. Few will want to be 'invested' in the markets, needing to understand derivatives, bonds, cds, mbs, etc... That's for the pros and the gamblers, errr, I mean speculators. ;-)
Looks like gold and silver are liking this (non)news.
hammered today, but raising again, wait end of the day to see but anyway it is pretty much a tomorrig ( tomorrow - rig ), report to next day what is too much visible today.
Anyone notice gold started to crash at 12:30, only to recover quickly when it was known that there is another 45 minutes before the QE is announced? Someone went off script a bit.
Yup, also fully fucking telegraphed GBP spike.
This is like pass the parcel combined with musical chairs
Each layer has a QE in it...................the last rapper has Nada in it and no chair when the music stops!
and it's BOOM.
Of course it could all go boom before the last rapper or chair
The ECB is only buying more time with QE for the incompetents in Brussels to continue to fiddle while Rome burns.
disagree. it's not about time, it's about pressure. the same kind of pressure that in politics results in "do something!", even when it's not necessary
@ghordius
"do something!", even when it's not necessary
One of your better statments!
Bread and circus for the 0.1%
We have week pols who are only interested in staying at the trough
onk onk onk!
You will be able to hear all of the High fives from Davos from here....when Dragai announces all the free money..he has to now..he is backed into the corner...
Imagine Draghi would come out swinging this afternoon: "look, we'll perform a Volcker on the rates any day now and you can forget all about QE. The system's fucked anyway, it's game over, get over it, love Mario".
highly debtful
"Imagine Draghi would come out swinging this afternoon: "look, we'll perform a Volcker on the rates any day now and you can forget all about QE. The system's fucked anyway, it's game over, get over it, love Mario".
In other news
Davos is disolved and they are all leaving in a hurry.
The alarm just went off, time to wake up from the dream
http://investfts.blogspot.co.uk/2015/01/calling-usdcad-strength.html
No Merkel, no QE.
Draghi remains day old road kill.
€1 trillion a month phony paper buying phony paper.....DOW should be 27,000 by lunch.
Quantitative easing is the back door for CBs asuming control of Corporations. Think of it as a hostile take-over bid. Board Room votes count when you have the majority shares of the available stock.