ECB Minutes of 25-26 Oct now meeting 23 Nov
- keeping QE open enjoys wide support, but a little want to delete the end date
- discussed bigger and smaller pieces in QE purchases
- In summary, Mr. Praet recalled that, since the 6-7 September meeting of the Board of Governors, the financial conditions had remained broadly stable overall, while the volatility of the exchange rate have partly dissipated. At the same time, the conditions of borrowing for companies and households remained very favourable
- Incoming information pointed to solid economic expansion in the second half of the year 2017. The risks to the growth outlook remained broadly balanced, with some upside risks in the short term.
- However, inflation developments still remained moderate. The measures of the underlying inflation rate has increased moderately since the start of 2017, but they had yet to show more convincing signs of an upward trend sustained. In addition, the convergence of inflation towards the objective of the Board of Governors continued to be bound to a substantial degree of monetary policy accommodation.
the MROs and three-month Operations will continue to be conducted fixed rate tenders with full allotment for as long as necessary and at least until the end of the last reserve maintenance period to 2019.
In addition, the Board of Governors has decided to publish each month, from now on, the expected monthly redemption amounts under the APPLICATION on a mobile of 12 months. It has also decided to provide additional information on the implementation of the programme, reflecting the commitment of the ECB to increase the transparency, through a separate press release («Additional information on the asset purchase program»).
EUR pairs gently greater than the first view of the release., There is nothing I can see that we don’t already know.
EURUSD 1.1853 EURGBP 0.8902 EURJPY 131.80
Full report here