Elliot Clarke, Research Analyst at Westpac, notes that the ECB met for their July meeting and the guidance provided on policy was the same as at the June meeting. Key Quotes “Notably, rates remaining on hold “through the summer” was confirmed to mean that the first rate hike would not be seen until after summer’s end. Ergo, the stance of policy in Europe will be unchanged until at least September or October 2019, with the exception of the end of asset purchases at December 2018 (which is already priced into markets).” “To see a rate hike cycle start at that time, economic growth needs to remain broad based such that wage and income growth accelerates further, and inflation develops a robust foundation. From less than 1.0%yr at June 2018, core inflation has a long road to travel to be near (but below) 2.0%yr on a sustained basis as the ECB intend.” “Worth noting from the Q&A was: the ECB’s comfort with the Euro’s depreciation in 2018, which is seen as the result of the US’ outperformance on growth and policy; and yet another call for fiscal reform from President Draghi. The latter is certainly necessary if activity and job growth is to remain above trend in coming years.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next ECB survey: 2018 inflation seen at 1.7% vs 1.5% previous, GDP forecast cut to 2.2% from 2.4% FX Street 5 years Elliot Clarke, Research Analyst at Westpac, notes that the ECB met for their July meeting and the guidance provided on policy was the same as at the June meeting. Key Quotes "Notably, rates remaining on hold "through the summer" was confirmed to mean that the first rate hike would not be seen until after summer's end. Ergo, the stance of policy in Europe will be unchanged until at least September or October 2019, with the exception of the end of asset purchases at December 2018 (which is already priced into markets)." "To see a rate hike cycle start at that… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
