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15 Jan 2015
ECB to deliver QE, at least €40bn purchases/month - Nomura
FXStreet (Bali) - Nomura's baseline remains that the ECB will communicate a monthly flow of public and private sector asset purchases of at least €40bn per month at this month's meeting.
Key Quotes
The ECJ Advocate General Opinion does not stand in the way of the ECB announcing LargeScale Asset Purchases including sovereign bonds on 22 January (as per our baseline)."
"Our baseline remains that the ECB chooses to communicate a monthly flow of public and private sector asset purchases of at least €40bn per month, for as long as necessary conditional upon the inflation outlook (see also the section below on ex-ante unlimited purchases)."
"We continue to believe this approach would allow the ECB to maximise flexibility and credibility, crucial considerations when inflation expectations are particularly low."
Key Quotes
The ECJ Advocate General Opinion does not stand in the way of the ECB announcing LargeScale Asset Purchases including sovereign bonds on 22 January (as per our baseline)."
"Our baseline remains that the ECB chooses to communicate a monthly flow of public and private sector asset purchases of at least €40bn per month, for as long as necessary conditional upon the inflation outlook (see also the section below on ex-ante unlimited purchases)."
"We continue to believe this approach would allow the ECB to maximise flexibility and credibility, crucial considerations when inflation expectations are particularly low."