Peter Vanden Houte, Chief Economist at ING, suggests that while ECB President Mario Draghi is still putting on a brave face, the minutes of the last meeting of the Governing Council, revealed that some members had their doubts regarding the growth outlook. Key Quotes “We believe that the staff projections, now penciling in 1.8% GDP growth in 2019 and 1.7% in 2020 will inevitably be revised downwards at the next forecast round in December.” “Today’s figures don’t offer many clues for immediate action. We believe that the ECB will proceed with its intention to stop net asset purchases from January onwards. A thorny question that will pop up in the course of next year is whether the ECB will be forced to launch a new TLTRO.” “In Italy especially, higher funding costs for the banking sector, caused by an increase in the sovereign bond yield, might induce a tightening of credit conditions at a time when the economic recovery is petering out.” 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 EUR/GBP tumbles to lows near 0.8800 on GBP-buying FX Street 4 years Peter Vanden Houte, Chief Economist at ING, suggests that while ECB President Mario Draghi is still putting on a brave face, the minutes of the last meeting of the Governing Council, revealed that some members had their doubts regarding the growth outlook. Key Quotes "We believe that the staff projections, now penciling in 1.8% GDP growth in 2019 and 1.7% in 2020 will inevitably be revised downwards at the next forecast round in December." "Today's figures don't offer many clues for immediate action. We believe that the ECB will proceed with its intention to stop net asset purchases from January… 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.
