The head of European Central Bank (ECB), Mario Draghi is possible to make a soft step since the ECB give way for stopping the monetary stimulus efforts on Thursday. Experts assumed it will almost certainly happen that the bank will begin to trim down its €60 billion (US$69 billion) worth of monthly bond purchases, following the initial termination schedule in December. However, they are not expectant that Draghi will provide the blueprint for the exit during the news conference on Thursday. The central bank is predicted to maintain its interest benchmark at zero and further clarification on the timeline for stimulus withdrawal is anticipated at the meeting on September 7. Moreover, the markets had an intense reaction, sending support for the single European currency to move higher and reached US$1.15 initially since May last year while the bond prices decline. This quick decision reflects that there are still some market players that remains not yet ready for the stimulus to end. For this played a major role in buoying the economy of the euro zone through controlling the interest rates. The market reaction triggered the “taper tantrum” which is accompanied by a speech from Ben Bernanke, head of US Federal Reserve, in May 2013.
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