Reviewing the European Central Bank’s (ECB) September meeting accounts that was published on Thursday, “When discussing the monetary policy stance and policy considerations the Account reveals that all members of the Governing Council agreed that a further easing of the monetary policy stance was warranted, but that the views on the various elements of the policy package differed,” noted ABN AMRO economists Nick Kounis and Aline Schuiling. Key quotes “In fact, ‘a number of reservations were expressed about the individual elements of the proposed policy package’. Most importantly, a ‘clear majority’ of members agreed with the restarting of net asset purchases, but ‘a number’ of members assessed the case for renewed purchases as not sufficiently strong and considered a package not including net purchases to be adequate. What is more, ‘a very large majority’ of members agreed to cut the deposit rate by 10bp to -0.5%, while a ‘few members’ were considering a 20bp rate cut, ‘in particular as part of a package that would exclude net asset purchases’.” “Looking forward, we think the ECB will need to ease policy further given that we are more pessimistic than the central bank on the outlook for GDP growth and inflation. Indeed, incoming data since the September Governing Council meeting have signalled that the slowdown in the global economy will be more protracted, which will also weigh on the eurozone economy (see here).” “We expect an additional 10bp reduction of the deposit rate in December, while the pace of net asset purchases could well be stepped up. Having said that, the Account suggests that the hurdle for additional rate cuts is lower than that for raising the monthly amount of asset purchases.” 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 Forex News Today: Daily Trading News share Read Next US Dollar Index technical analysis: DXY under pressure near one-week lows FX Street 4 years Reviewing the European Central Bank's (ECB) September meeting accounts that was published on Thursday, "When discussing the monetary policy stance and policy considerations the Account reveals that all members of the Governing Council agreed that a further easing of the monetary policy stance was warranted, but that the views on the various elements of the policy package differed," noted ABN AMRO economists Nick Kounis and Aline Schuiling. Key quotes "In fact, 'a number of reservations were expressed about the individual elements of the proposed policy package'. Most importantly, a 'clear majority' of members agreed with the restarting of net asset… 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.