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ECB decision expected today
03 April 2014

 


We set sail today with the monthly European Central Bank decision. In line with most of the ECB decisions the single currency has held interest rates at a unique low of 0.25% throughout the Eurozone crisis. Lower inflation from March, which has been below than expected for the ECB cut off of 1% for six months, may push the ECB president Mario Draghi to announce a further buy back of bond buying. The outlook for the decision remains uncertain; any such activity would likely to weaken the single currency and better exchange rates improving if you are looking to make Euro payments.


Mario Draghi has communicated that is willing to take bold action to push off the threat of deflation.  Over the hill, the prospect of no action being taken is that we could see the euro gain value as the market absorbs interest rates, leaving them as they are. As always with the ECB Presidents speeches after the decision, the markets tend to move and cause euro volatility.


The Bank of England rate decision is due next week and far from Thread Needle Street we see little data in terms of some US manufacturing figures. Similar across the broad the Eurozone sees no change with data and likely to see all eyes focused on the single currency. 


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