Analysts at Danske Bank suggest that we have a more interesting day ahead of us after the quiet one yesterday with Norges Bank and ECB policy announcements scheduled.
“In Norway, we expect Norges Bank to stay on hold (10:00 CET). All in all, we think there is little reason for it to depart from its planned gradual normalisation of monetary policy and still expect it to signal the next hike will come in March.”
“Later at 13:45 CET, we have the policy announcement from the ECB and at 14:30 CET, ECB President Mario Draghi’s press conference. We expect the debated growth risk assessment to take centre stage. At the previous meeting, the ECB coined the growth risk assessment as broadly balanced but moving to the downside. Since then we have seen a string of disappointing data. We expect questions from the audience on liquidity operations but no formal announcement until the March meeting.”