Further to Ryan post on Goldman's ECB view here's the latest note from BOAML economist Gilles Moec
- forecast pushed out from Oct prev
- while recent data is consistent with additional easing as soon as this month, it may take a while longer to get consensus on the Governing Council
- waiting until Dec could increase pressure on the ECB to extend and expand QE
- without a quick response from the ECB it could cost the euro-area's GDP growth 0.2-0.3% in 2016
My jury's still out on this one. Plenty of recent rhetoric from the ECB leaves the door very much open for extended QE and we might see a lite version next week but more likely to continue the talk at this stage
Meanwhile EURUSD is still finding support in the dips not least of which from EURGBP demand since the UK CPI data
