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Reply #91: ECB doused hopes [View All]

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Ghost Dog Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 03:04 PM
Response to Reply #9
91. ECB doused hopes
(Reuters) - The European Central Bank doused hopes on Thursday it will ramp up its bond-buying program to fight the bloc's debt crisis, unnerving markets hours before a high-stakes EU summit they had hoped would produce a 'grand bargain' to end the turmoil...

... "One step forward, two steps back," said Alan Clarke, economist at Scotia Capital. "The ECB thought it was helping out by cutting interest rates and providing longer term liquidity measures. So far so good.

"But then to dash any hopes that the ECB might fire its bazooka (and engage in QE) has meant that the ECB's actions have backfired ... The euro zone leaders might as well not bother. Pack their bags, go home, enjoy the weekend and do their Christmas shopping."...

/... http://www.reuters.com/article/2011/12/08/us-ecb-rates-...
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