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ECB Corrects Market Outlook for Policy: Trading Themes for March 9, 2014

ECB Corrects Market Outlook for Policy: Trading Themes for March 9, 2014

6 Years ago | March 08, 2014 00:00:00


ECB Attitude Adjustment

I was surprised last week that so many observers had been expecting an easing from the ECB last Thursday. It seems as though the quality of economic analysis has been generally deteriorating. As I pointed out in my commentaries over the week, flash February HICP had increased to 0.80% yr/yr from a final 0.70% reading in January plus core flash HICP was 1.00% yr/yr. Also, German data recently has been been mostly improving over the past month. ECB President Draghi has been very clear in his past several meetings: the ECB was not going to ease unless the Eurozone economy turned south sharply. Furthermore, Draghi has said repeatedly that the ECB has no fear of Eurozone deflation in the me

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