Forecast: The ECB will announce the completion of the QE program today
Today, the ECB is likely to announce the completion of the program of pumping markets with liquidity.
This is a big turn for the ECB policy: the «quantitative easing» program has been going on for 3.5 years, and the inflows into the markets amounted to a huge amount of 2.5 trillion euros.
This turn of policy will open for the ECB the way to a gradual increase in interest rates — that is, the return of normal policies for the central bank.
The market is preparing to meet the ECB’s decision with a noticeable growth of the euro.
The decision of the ECB will be released at 11:45 AM London time. Press conference of the head of the ECB at 12:30 PM London time.