News and Reviews European Economic Zone

[mynameisandhy]

News and Review of European Economic Zone

 

ECB Will Hold Bank Stress Test in November

Wednesday, October 23, 2013

 

European Central Bank will initiate a thorough review of the 130 financial institutions ranging from Latvia to Germany in November , in an effort to relieve doubts about the strength of European banks and the private sector to repay loans , according to an announcement on Wednesday .

 

As part of the review of assets and balance sheet stress test banks , the ECB will require all banks to set aside 8 % of risk -adjusted capital as a crutch losses on loans and other parts of their balance sheets .

 

The ECB , which is assumed to be running a new role as the sole banking supervisor euro zone by the end of next year , said that the review of assets will include on- balance sheet and off -balance sheet exposures such as credit derivatives . The ECB will also examine records of banking and financial institutions trade it . Euro block is currently composed of 17 states and will increase to 18 in the month of January as Latvia officially adopted the use of the euro currency .

 

The central bank officials will use the standard definition for problem loans that have been released European Banking Authority in London on Monday . EBA states that assets should be classified as non -performing if it has exceeded the threshold of 90 days from the time of maturity.

 

" A review of assets is an important step forward for Europe and for the economic future of the Euro area , " ECB President Mario Draghi said in a statement . " We hope that it will strengthen the assessment of private sector confidence in the health of euro zone banks and the quality of their balance sheets . "

[mynameisandhy]

News and Review of European Economic Zone

 

Montebourg : Euro ' Too Strong , Too German '

Wednesday, October 23, 2013

 

French Industry Minister says he wants the European Central Bank to adjust the exchange rate of the euro to make European companies more competitive . In an interview with the French daily , Le Parisien , Arnaud Montebourg said the central bank should do what every government : " Mennyesuaikan exchange rate as needed . "

 

" The euro is too expensive , too strong , and a little too German , " said Montebourg . " The euro should be Italy , France , and Europe in general . " A decrease of 10 % in the exchange rate of the euro against the dollar will boost the French national welfare as much as 1.2 % , creating 120,000 jobs and reduce the deficit by 12 billion euros ( 16:44 billion dollars ) , he said . If the euro fell as much as 20 % , it would create 300,000 new jobs and reduce the deficit as much as a third of the country , added Montebourg .

 

The strong euro makes it more difficult for European companies to export their products . Montebourg menggarisbawaji the fact that Europe is " the only region in the world that has not returned to growth within five years after the crisis . "

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

BoE : UK Unemployment Rate Dropped Faster Than Predicted

Wednesday, October 23, 2013

 

Britain's unemployment rate appears to fall slightly faster than expected recovery as proved stronger than expected , according to a senior Bank of England meeting at a policy meeting in October . BoE in August last commit to hold interest rates until the unemployment rate hit 7 % , something which is expected to take 3 years , unless inflation gets out of control or there is a risk to financial stability . But since then , growth has been strong and the unemployment rate has dropped to 7.7 % from 7.8 % , prompting analysts to predict the change estimate and the BoE will raise interest rates sooner .

 

" The decline in the unemployment rate in the three months to July seemed to indicate the level of growth in full- time permanent employment , " according to minutes of the Monetary Policy Council meeting on 8-9 October. " And that is why the unemployment rate will probably be lower and output growth accelerated in the second half of 2013 dai -expected inflation report last August . "

 

Although at the time of the August estimate was released , most private economists had forecast the jobless rate would be reduced much faster than expected BoE , and interest rates are expected to rise faster than the central bank's forecast at the end of 2016.

[mynameisandhy]

News and Review of European Economic Zone

 

Draghi : ECB Not Hesitate To not pass Bank In Stress Test

Thursday, October 24, 2013

 

European Central Bank President Mario Draghi said that the officials will not hesitate to fail stress tests on banks in the next year as the ECB will set them to prove their vigilance in his new role as banking supervisor .

 

" Banks have failed " to prove the execution of their credibility , Draghi said in an interview on Bloomberg Television with Lacqua in Frankfurt , after the ECB announced plans to assess banking assets . " If they should fail , they will fail . " There is no question about it . "

 

ECB run the three stages in examining the health of the banking industry in the euro area as a prerequisite for taking over the supervision of the next year , and they set the terms of reference for the capital assets of about 8 % on the day . A series of stress tests , which will open up the balance sheet for the worst case scenario , will be conducted by the European Banking Authority as a final step .

 

" This test can be believed as the ultimate goal of it is to restore or strengthen confidence in the soundness of the private sector banks , in terms of the quality of their balance sheets , " said Draghi . "Ultimately the goal , to have the money from the private sector, which will in input to the banking industry . "

 

ECB executive board member Joerg Asmussen said this month that " this is our last chance for a third and returns the confidence " after two previous EBA strees test failed to do so .

[mynameisandhy]

News and Review of European Economic Zone (Spain)

 

Bank of Spain: Economy Has Regardless of Recession

Thursday, October 24, 2013

 

Bank of Spain on Wednesday said that the recession 2 years ensnare the 4th largest economy euro zone has ended the 3rd quarter, as Spain recorded a growth of 0.1% from the previous quarter.

 

In the early projections of economic performance during the period from July to September, the Spanish central bank said if the available data also shows domestic demand is still contracting 0.3% from the previous quarter, the same as in the 2nd quarter. But it was able to be offset by a strong contribution from the export sector.

 

Bank of Spain projections usually in line with the INE, Spain statistics institute. INE is scheduled to release its first estimate of GDP for the 3rd quarter of Spain on 30 October.

 

In the same occasion added that the Bank of Spain Spain Unemployment indicators have also shown the performance of the 3rd quarter in the history.

[mynameisandhy]

News and Review of European Economic Zone

 

ECB official : We Have Much Space Policy

Thursday, October 24, 2013

 

In the midst of the development issues of bank stress tests and repairs the European financial system , the European Central Bank ( ECB ) to ensure that the central bank has plenty of room to act . But the ECB will be cautious in using its authority , according to the market needs .

 

The assertion was made by ECB executive board member , Yves Mersch , to a Dutch media some time ago . He stated that the ECB is very broad powers , including to extend loans to banks for three years . But the ECB has not seen how it is necessary for the time being . " All options are open , and we have a lot of intensive strategy , " he told the Financieele Dagblad .

 

Discourse extension of loans to banks for three years longer expressed by analysts and economists as a way to keep the volume of liquidity in the financial markets . " We will monitor the situation but for now the central bank has not pressed for the conditions , " added Mersch . The ECB has repeatedly expressed his commitment to take any monetary measures , both conventional and non - conventional , to protect the euro zone economy .

[Jaso-trader]

Good analysis there. We should be expecting the economy of Germany to remain steady up to the end of the year.

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

Bank of England Loosen Liquidity Rules To The Bank

Friday, October 25, 2013

 

Governor of the Bank of England launched a program of change for the central bank to expand access to financial markets and cut costs assurance of liquidity into the financial system .

 

BOE will expand the reach of credit acceptance in a variety of facilities and offering cash for long periods at a cheaper cost , Carney said in a speech in London on Thursday . Officials will also consider making some policy tools that can regulate broadly relevant institutions .

 

This step expands the improvements made by the BOE Carney since he presided in July , and the following independent view of liquidity in the banking operations . Former Governor of the Bank of Canada has made a change in monetary policy by introducing guidance on interest rates , and McKinsey & Co. bring . to give advice on their strategy after they expand their authority .

 

" With our announcement today , we are building karangka liquidity to the market tomorrow , " said Carney . "This effort will help set the stage for further increase in the supply of credit in the UK . "

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

UK economy grows at fastest rate in 3 Years

Friday, October 25, 2013

 

In the third quarter of the UK 's economic growth is likely to be the fastest pace since the last three years as the continued recovery in all major industries . Economists forecast UK GDP in the third quarter by 0.8 % from the previous quarter by 0.7 % . The figure was the largest increase since the second quarter of 2010 .

 

Bank of England Governor , Mark Carney will give a new estimate of quarterly growth on 13 November , and the emerging expectations the BoE will admit should increase the level of interest rates sooner than previously thought . Guide future policy which was announced on August 7 , BoE said it would keep interest rates at 0.5 % and the unemployment rate fell to 7 % , which is projected to be achieved by 2016 .

 

Economists also estimate from the previous year , GDP likely rose 1.5 % from 1.3 % in the second quarter . Data in the previous second quarter showed the services sector , manufacturing , construction , and agricultural expansion together for the first time since 2010 , and the survey showed the momentum continued into the third quarter . IMF predicts economic growth of 1.4 % UK this year .

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

The pound soared Over Soaring House Prices in the UK

Monday, October 28, 2013

 

The pound rose to its highest level in almost four weeks against the dollar after an industry report showed home prices rose for the ninth month in October .

 

The British currency has appreciated against most of its 16 major counterparts as more and more data added to evidence strengthening the UK economy . Gross Domestic Product ( GDP ) grew by 0.8 % UK in the third quarter , the highest increase since 2010 , the government said last week . UK government bonds declined . Millions of commuters passengers are advised to stay at his home on Tuesday as the worst storm in the last five years which forced the train operator in southern England canceled the service hours of the morning.

 

" Data UK should continue to improve, " said Lutz Karpowitz , senior currency analyst at Coomezbank AG in Frankfurt . " At last week's GDP data is quite strong , so it is in favor of some strengthening of sterling . "

[mynameisandhy]

News and Review of European Economic Zone

 

Inhibiting the Ifo Business Survey Euro

Monday, October 28, 2013

 

The euro slipped from highs around 2 - weeks and then traded flat against the dollar after a survey showed German business sentiment fell for the first time in 6 months . Sparking renewed worries about the impact of the strengthening of the Euro against the region's exporters . Ifo report was released one day after private-sector activity index indicates if the euro zone recovery start stalled . However, expectations of Federal Reserve stimulus tapering delay still limits the weakening Euro .

 

" The increasing expectations that the Federal Reserve will continue their QE program next year continues to encourage the traders to remove dollar and buy euros , " said Boris Schlossberg , director of foreign exchange strategy manager at BK Asset Management in New York . " In contrast , market participants do not expect to be any change in the monetary policy of the European Central Bank . And it has helped keep the Euro performance , at least against the dollar . "

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

The British Government Plans to Publish Sukuk

Tuesday, October 29, 2013

 

The British government is reportedly studying the possibility of issuing new financial instruments in the near future . Authority opportunites launch Sharia-compliant bonds as an alternative fundraising .

 

In an official statement a few moments ago , the British government said it was rocking discourse issuance of debt securities that are tailored to Islamic law or commonly known as Sukuk . Finance Ministry reviewing the articles in the practice of Islamic bonds before deciding to boost loan of about 200 million pounds, or $ 321.70 million . If nothing gets in the way , Sukuk English began to be collected starting next year , as the sound of an official government statement .

 

The government's decision to issue Sukuk came after authorities opened an opportunity for the Chinese bank to open a branch in the UK last week . " Efforts to diversify the business and product strategy is to maintain its competitiveness in the global financial world while restricting bonus ' stealth ' for bankers , " said Alex Conroy , Financial Trader at Spreadex company . Sukuk issuance discourse is also in line with the government's efforts to maintain the reputation of London as a financial center wide.

[mynameisandhy]

News and Review of European Economic Zone

 

ECB's Noyer urges French Cut Spending

Tuesday, October 29, 2013

 

One member of the Board of Governors of the European Central Bank, Christian Noyer, urged the French government to immediately cut spending and not just hold it.

 

"The efforts of the current government should be more focused on spending. Should be the absolute acceleration of spending cuts," said Noyer, who also served as the Governor of the Bank of Farnce, in an interview with the Financial Times.

 

Noyer also urged the French government to speed up reforms and labor costs as well as the job market products and services market reforms, which has been continued by President Francois Hollande avoided.

 

"A lot of things can be done, even in a period of budget constraints," he added.

 

For Noyer, French growth should be able to return to the potential level or higher in 2015 to not rule out structural reforms.

[mynameisandhy]

News and Review of European Economic Zone (Spain)

 

Spanish Bonds Rise , Sustained Increase in Retail Sales

Tuesday, October 29, 2013

 

Spanish government bonds rose for a second day as a report showed retail sales rose in September , adding evidence that pemuliham get momentum in the country .

 

Yields on 10 - year bond fell to its lowest level since May, before the Spanish make the interest rate and the repayment of which about 21 billion euros ( $ 28.9 billion ) this week . Italy is scheduled to sell six- month bills amounting to 8 billion euros today , while Finland plans to auction bonds maturing in 2018 and 2042 amounted to 1.5 billion euros .

 

" We 've seen a lot of improvement in the economy for Spain in recent months and some progress in structural reform , it has fueled the demand for Spanish bonds , " said Felix Herrmann , research analyst at DZ Bank in Frankfurt Ag . " Recent strong performance for coupons Spain and redemption payments this week . It provides liquidity that needs to be invested back . "

 

Yields on 10 - year bond fell four basis points , or 0.04 percentage point, to get down to 4:06 after the 4:05 percent , the lowest level since May 6.

 

Spanish retail sales increased by 2.2 percent from a year ago , after falling a revised 4.2 percent in August , in the report by the National Statistics Institute . Economic report tomorrow will show the economy grew by 0.1 hideaway in the third quarter , according to a Bloomberg survey of economists .

[mynameisandhy]

News and Review of European Economic Zone (Germany)

 

German Unemployment Claims Continue to Increase

Wednesday, October 30, 2013

 

German jobless claims unexpectedly increased again in October , as the slowdown in Europe's largest economy recovery . Economists expect the German economy will not return significant growth before the end of this year .

 

Germany's labor agency , Bundesagentur fur Arbeit or BA , on Wednesday reported a rise in jobless claims for the 3rd month in a row . The number of claims rose by 2,000 from September figures , which dispelled without any changes from the expectations of economists .

 

Some economists argue that the outlook for the labor market has been eroded by the government's latest outlook for German law , which includes implementation of the national minimum wage of € 8.50 ( $ 11.72 ) per hour , which is at risk lead to more job losses , especially among small industries .

 

In the same occasion BA also said that the growth of business activity , which usually accompany summer vacation , do not create many jobs as in previous years . Which left more than 48,000 without jobs in October . Another indication of the weakening of the German labor market is also evident from the decline in enrollment demand for labor , with employment down by 29,000 from the level in October last year .

 

While Germany's adjusted jobless rate unchanged in October , with entrenched at the level of 6.9 % . The figure shows that the job market in Germany , as a whole , is still stronger than most other countries in the Euro bloc , where reductions in employment have a negative impact on the economy .

[mynameisandhy]

News and Review of European Economic Zone (Spain)

 

Spanish End the Recession That Lasts For Two Years

Wednesday, October 30, 2013

 

Spain recession that has lasted for two years has ended in the third quarter , based on Prime Minister Mariano Rajoy bet that exports can bounce back in the country with the fourth largest economy in the eurozone .

 

Gross domestic product ( GDP ) rose by 0.1 % from the second quarter , which is when it fell 0.1 % , the National Statistics Office said in Madrid today . That's according to the Bank of Spain estimated on October 23 . Inflation in October was 0.1 % , a level seen at least since 2009, the INE said in a separate report .

 

Rajoy has promised to stabilize the government debt burden by the end of his term in 2015. Spain 's debt ratio has more than doubled since the country began wrestling in recession in 2008 . Export is the sole driver of growth for Spain Rajoy enacted as the deepest budget cuts in the history of Spanish democracy amid unemployment rate reached 26 % .

 

" The end of the second and longest recession has not been enough to make Spain look better , " said David Haugh , head of the Organization for Economic Co -operation and Development in Paris . " In a globalized world , in need of more knowledge -intensive economy to be able to pay higher salaries , although the low-ability people during the construction boom .

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

BoE Other Instruments Got To Mute UK House Prices Increase

Wednesday, October 30, 2013

 

Britain's economic recovery is still at an early stage and the recovery is still dependent on rising house prices and consumer spending , according to BoE Governor Mark Carney . Britain's economy has recovered since the beginning of 2013 after a long stagnant period after the 2008-2009 recession . But the source of growth due to higher consumer spending . However , with real consumer incomes are still down has raised doubts about the sustainability of the recovery . Economists are also worried about a government scheme to encourage the purchase of the home that can trigger an increase in house prices and this has been evident from the rise in prices in the city of London and surrounding areas .

 

However, the BoE 's Carney confirms housing transactions is still one third of the level before the crisis . BoE governor also point out that the central bank has other instruments to curb rising home prices so as to avoid higher interest rates to combat rising house prices that occurred in several cities in the UK . At a meeting last April, the BoE has changed the rules of bank credit into sectoral basis . BoE 's Carney also express commitment not to change the central bank interest rate policy until the unemployment rate falls below 7 % of the current level of 7.7 % .

[mynameisandhy]

News and Review of European Economic Zone (Germany)

 

Retail sales in Germany Slows In September

Thursday, October 31, 2013

 

German retail sales data released in September was weaker than expected, which still indicate modest growth in business activity in Europe's biggest economy.

 

German Federal Statistical Office report showed retail sales fell 0.4% in September after slipping 0.2% in August, which undermines expectations of a 0.4% increase economists. Volume sales also slumped to its lowest level since March.

 

But economists argue that German retail sales overall trend remains positive, as retail sales during the first 9 months of this year grew 0.2% from the same period a year earlier. German retail sales rose 0.2% from September 2012, with a 0.8% rise in non-food sales offset a sharp decline in sales of food, beverages and tobacco.

[mynameisandhy]

News and Review of European Economic Zone (Italy)

 

Italy Unemployment Rate Jumps to Record High

Thursday, October 31, 2013

 

The unemployment rate in Italy rose higher than expected in September , reaching all-time highs as the company failed to receive new workers amid concerns that the recession is still ongoing , is currently the longest recession since World War II .

 

The unemployment rate rose to 12.5 % from a revised 12.4 % in August , the agency said in a report Istats in Rome earlier today . The unemployment rate in September was the highest since the release of the data began in the first quarter of 1977 , in which the results are 12.3 % above the median estimate of 10 analysts in a Bloomberg survey .

 

Italian economy shrinks in third quarter , extending its record slump that began since 2011 , and intimated that the recovery in the country with the third largest pereknomian Euro zone has not run , said Antonio Golini , head on Istat this week . He also told the parliament in Rome on October 29 that Italian GDP will fall 1.8 % this year . It was larger than the rate of contraction of 1.4 % of the estimated statistical agencies in May.

 

Unemployment rate for those aged between 15 and 24 years also rose to a record high 40.4 % from 40.2 % in August , Istat said today .

 

Government of Prime Minister Enrico Letta 's projected unemployment rate reached 12.4 % in the next year , the finance ministry said in a report last month . That's according to estimates in a report by the International Monetary months Septrmber Fund ( IMF ) .

 

Statistics agency initially reported an unemployment rate of 12.2 % in August .

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

UK Mortgage Approvals Rise To Highest Level In 5 ½ Years

Thursday, October 31, 2013

 

Mortgage approvals in the UK rose to its highest level in 5 ½ years in September , adding to signs that the strengthening in the property market is being revived with government incentives .

 

The lending institutions providing mortgage approvals as much as 66 735 , the highest since February 2008 , compared with a revised 66,396 in the last month , the Bank of England said in a report today in London .

 

Interest rate home loan fell to a record low , and gross mortgage lending of 15.6 billion pounds ( $ 25 billion ) , the highest level since October 2008 .

 

Hometrack Ltd. . yesterday said that house prices in England and Wales rose by 3.1 % in October from a year ago , the biggest increase since 2007 . Chancellor of the Exchequer ( finance minister ) England , George Osborne has accelerated its assistance to purchase the program this month to increase activity in the real estate and Hometrack said that selish between supply and demand widened.

 

" The housing market soared as low interest rates and increased confidence which give the buyer an interest to buy a house , " said Rob Wood , an economist at Berenberg Bank in London . " It's still early , as the actual house prices and transactions are still below pre-crisis levels . But the main problem is not in the house at today's prices , but where they will be in the next few years . Prices and activity rise rapidly . "

 

Number of mortgage approvals in September surpassed analysts' estimates . 66,000 increase in their predictions based on the median of 23 economists in a Bloomberg News survey . Net mortgage lending rose by 1:03 billion pounds in the last month and konsuemn loans rose 864 million pounds , said BOE .

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

Markit : Improved Buttress UK Manufacturing Export Orders

Friday, November 1, 2013

 

Fastest growth in export orders in more than 2 years has been supporting British manufacturing activity last month , according to a survey released on Friday . The report also indicates if the UK economic recovery has had a strong foothold .

 

Markit survey results showed UK manufacturing activity index declined slightly to 56.0 in October from 56.3 in the previous month , but still not far from the last 2 years at the top level has been reached 57.1 in August . UK manufacturing sector has shown rapid growth in recent months , though still about 9 % below pre-financial crisis growth levels .

 

While the data shows the PMI sub - index of export orders jumped to its highest level since February 2011 to 56.5 last month from 53.6 in September , as the improvement in demand from Asia , the U.S. , mainland Europe , the Middle East and Russia .

[mynameisandhy]

News and Review of European Economic Zone

 

Euro Pressured By pruning Interest Rate Speculation

Friday, November 1, 2013

 

The euro fell to a 2 - week lows versus the U.S. dollar on Friday , and extended losses for the 5th consecutive session , as the slowdown in regional inflation fueled speculation about interest rate cuts European Cental Bank at the end of this year . A data released Thursday showed euro zone inflation rate slumped to the slowest in the 4 - year to 0.7 % in October , well below the ECB's 2% target . Speculation is also delivering euro posted its worst weekly performance since July 6, 2012 against the U.S. dollar .

 

" Selling pressure on the euro has risen . Partly due to the adjustment end of the month , and partly fueled by expectations of ECB rate cuts , " said Vassili Serebriakov , forex analyst at BNP Paribas in New York . Serebriakov also added that BNP Paribas does not expect the ECB rate cut at the November meeting , but chances are it is open at its policy meeting in December .

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

UK manufacturing slowdown Disappointing Sterling

Friday, November 1, 2013

 

Sterling slipped to a 2-week lows against the U.S. dollar after a survey showed UK manufacturing growth slowed slightly last month, which contrasted with similar data in the U.S.. UK manufacturing PMI fell to 56.0 in October from 56.3 in September, slightly weaker than expected 56.1. Although these results are still at the level of expansion and growth signaling activity, the majority of investors skeptical with strengthening UK economic data further.

 

"Success through the $ 1.6000 level has delivered Sterling continued its decline to the $ 1.5890/1.5925 area. Confirmation breakout area is likely to be increasingly pressing Cable approaching the next target in the $ 1.5530/1.5600 area at the end of this year," said Christopher Vecchio, currency analyst at DailyFX.

[mynameisandhy]

News and Review of European Economic Zone (UK)

 

UK CBI Raise Growth Projections

Monday, November 4, 2013

 

Confederation of British Industry raised its forecast for UK economic growth and said it expects business investment and trade will help the recovery starting next year . CBI estimates the economy to expand by 1.4 % this year and 2.4 % in 2014, according to its quarterly report . Up from an estimate in August by 1.2 % and 2.3 % . CBI will menggela annual conference in London today also said the unemployment rate is a key indicator of the Bank of England to set policy outlook will drop to 7.2 % by the end of 2015 from 7.7 % this time .

 

"The recovery will not take place is spectacular , just slow and steady , but it appears to be more solid and sturdy , " said John Cridland CBI director . " We also expect business investment will increase in the next 2 years and beyond, and the trade will start making a greater contribution to growth . "

 

UK economic growth rate increased to the fastest pace in more than 3 years in the third quarter as the recovery continues in all major industries . BOE Governor Mark Carney will present new quarterly perkoraan on November 13 later and some economists said the Bank of England will probably advance their projections for when the unemployment rate reached 7% level . Carney has said he plans to hold the BOE interest rate at a record low at least until the unemployment rate fell to 7 % , which is not expected to occur in late 2016 .

[mynameisandhy]

News and Review of European Economic Zone

 

The euro slumped in Asian session

Monday, November 4, 2013

 

The euro fell to a low level of 2 weeks at the beginning of Monday's Asian session , after suffering from weekly weakened the most in more than a year in the last week as rising expectations that the European Central Bank will be forced to cut interest rates to boost growth rates . After data last week showed a decrease in the rate of inflation in the euro zone , a number of analysts , including UBS and RBS argue rate cuts might be coming as soon as this Thursday's policy meeting .

 

" Despite market expectations for the pace of the ECB has grown due to weak inflation data , we think the ECB is more likely to act in December , " said analysts at Barclays Capital , adding that the interest rate unchanged on Thursday could trigger a rebound later in the euro . " However, we expect a dovish tone at the press conference by ECB President Mario Draghi opened up opportunities for policy measures in December . Therefore we recommend to use a rally in the euro as the entry level . "