• Knave Dave
    05/23/2016 - 18:16
    This past Thursday marked the one-year anniversary of the US stock market’s death when stocks saw their last high. Market bulls have spent a year looking like the walking dead. They’ve...

ECB Leaves Rate Unchanged At 1.50% - Full Statement

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Thu, 10/06/2011 - 08:00 | 1744725 Fips_OnTheSpot
Thu, 10/06/2011 - 09:52 | 1745193 covert
covert's picture

keep the rates up.



Thu, 10/06/2011 - 07:52 | 1744726 ZeroPower
ZeroPower's picture


Thu, 10/06/2011 - 07:53 | 1744729 firstdivision
firstdivision's picture

Didn't Ben teach them anything about supporting stocks regardless of the consequences? 

Thu, 10/06/2011 - 07:58 | 1744741 HelluvaEngineer
HelluvaEngineer's picture

Sadly, this made me laugh.

Thu, 10/06/2011 - 08:19 | 1744790 firstdivision
firstdivision's picture

At least Belgium had the cognitive brain damage required to listen to Timmay and Ben's advice.

Thu, 10/06/2011 - 07:54 | 1744732 wang (not verified)
wang's picture

Give it time ...  Goldman's Dragi once he takes the helm will get those rates pounded down to zero

Thu, 10/06/2011 - 07:56 | 1744736 Mae Kadoodie
Mae Kadoodie's picture

JCT  "Let them eat cake".

Thu, 10/06/2011 - 07:58 | 1744739 DormRoom
DormRoom's picture

sigh.. more money printing causes capital to chase speculative trades, distorts interest rates, leaving less capital for 'real' productive parts of the economy.


ECB should be lowering interest rates, but it can't because of all the money printing over the last 3 years, that is chasing commodities, pushing up input costs, from overheated emerging markets.



Thu, 10/06/2011 - 07:58 | 1744743 swissaustrian
swissaustrian's picture

The interest rate gap to the USD stays at 1.5% but the the EUR sells off... That´s the new normal...

Thu, 10/06/2011 - 08:01 | 1744752 Racer
Racer's picture

At least they are giving savers a tiny bit of money, not enough to keep up with inflation but better than the US and UK!

Thu, 10/06/2011 - 08:06 | 1744761 swissaustrian
swissaustrian's picture

It seems that they really stick to their rule to monitor the Eurozone as a whole. Germany needs a rate hike. The PIIGS need zero rates. So keeping rates unchanged is the compromise.

Thu, 10/06/2011 - 08:04 | 1744757 RobotTrader
RobotTrader's picture

Gold also hammered on the announcement.

Why don't you guys start cheering for more easing, more Fed meddling and intervention, higher stock prices, etc. so we can get gold to go to $2,000??

Thu, 10/06/2011 - 08:06 | 1744760 firstdivision
firstdivision's picture

Cause some of us want to buy cheap physical.  Call me a value investor.  I'm praying that it falls to $100/oz.

Thu, 10/06/2011 - 08:12 | 1744773 DormRoom
DormRoom's picture

gold got hammered cause EUR-USD went down on the news.


The market is highly correlated with the USD now. The higher it goes, USD carry trade gets unwound, and selling.  If it goes lower, big money hops back on the carry trade, buys, and gets a risk hard on.

Thu, 10/06/2011 - 08:04 | 1744758 firstdivision
firstdivision's picture

So the Euro sells off on keeping rates the same, and rose on Belgium willing to use their citizens hard earned money to absorb Dexia...sure this makes perfect sense....

Thu, 10/06/2011 - 08:06 | 1744762 aus_punter
aus_punter's picture

good riddance Trichet - enjoy your tax payer funded retirement you useless cunt

Thu, 10/06/2011 - 08:06 | 1744763 aus_punter
aus_punter's picture

good riddance Trichet - enjoy your tax payer funded retirement you useless cunt

Thu, 10/06/2011 - 08:09 | 1744768 RobotTrader
RobotTrader's picture

Trichet singlehandedly triggered the entire Euro crisis with his rate hikes last year.

He loves unstable capital markets, a weaker currency, and financial turmoil.

Thu, 10/06/2011 - 08:18 | 1744789 Global Hunter
Global Hunter's picture

I'm not a regular RoboTrader basher I get what you do, I understand where you're coming from but I have to say blaming the state of the global economy on Euro rate hikes last year is like saying the reason its dry in the desert is because it didn't rain on October 5th between 3-4:00 pm.

Thu, 10/06/2011 - 08:22 | 1744796 qussl3
qussl3's picture

All JCT has done is set the stage for a Eurocrat takeover.

As long as he does the LTROs for at least 6-12mths, unlimited, there is little chance of a lehmann type event.


Thu, 10/06/2011 - 08:17 | 1744786 firstdivision
firstdivision's picture

Timmay just finished calling JCT.  Here is a snippet of the call http://www.youtube.com/watch?v=kfog8WjfKyo

Thu, 10/06/2011 - 08:20 | 1744792 BarryG
BarryG's picture

Interesting comments from the former Polish PM this week, warning of German influence in Europe....



Thu, 10/06/2011 - 08:36 | 1744845 SmoothCoolSmoke
SmoothCoolSmoke's picture

I am making so much dough shorting the Euro it's scary.  FX leverage..... dangerous as hell, but when it is working for you: wow!

Thu, 10/06/2011 - 09:11 | 1744995 firstdivision
firstdivision's picture

A smart man would be taking their chips off the table shortly.  The US will follow suit soon and the dollar will plunge. 

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