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ECB Minutes show corporate bonds were on the table

The first ever meeting minutes from the ECB shows many thought  QE as the only option. They decided to raise the initial  suggestion from 50 to 60 billion euros in the final decision. Also corporate bonds were on the table. Could we eventually see QE extending to larger monthly buys that will include such bonds?

EUR/USD trades at lower  range on Greek uncertainty, following the Greek submission of the extension.

The opponents of QE so no urgent need, but all agreed it was a policy instrument. There was a broad agreement that risk sharing with bond buying according to capital key.

They agreed to terminate bond buying when inflation target is reached. This is the open ended nature of the  decision.

All in all, the QE decision attracted a “large number of council members” in favor of this decision.

This is the first time that the ECB publishes minutes,  but we generally knew that there was some opposition to QE from the German side, even if this isn’t explicitly printed in the minutes.

The option of corporate bonds is perhaps the only big news, but also this was considered in the past.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.