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Mario Rocks The Markets - January 25, 2015

Mario Rocks The Markets - January 25, 2015

5 Years ago | January 25, 2015 00:00:00


ECB QE Does Not Disappoint
For once it appears the ECB got the message. Markets were prepared for disappointment from the ECB on Thursday, but instead they got a more aggressive package than expected. The central bank announced an open-ended asset purchase program along the lines of the Fed's package from several years ago. One of the basic flaws of the ECB is that the governing board is a consensus-driven organization. That means bold decisions by the central bank tend to be watered down. This explains why this decision came several years too late. The decision by the ECB opens the door to parity on the EURUSD. As for the SNB and the CHF fiasco, institutions and traders continue to adjust. We are not certain the EURCHF has fo

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