“As many expected, the ECB governing council kept current policy unchanged at this meeting, meaning that all eyes will now be on the outcome of the December session,” he said.
“In December, we expect to hear some discussion around amendments to the current QE programme, most likely a six month or so extension from March 2017, and some movement around the parameters of what they can buy, though it is still open as to how these may be modified specifically.
“(As) regards tapering, we don’t think we will hear any indication of this until, at the very earliest, this time next year. The council will most likely want to see some increase in inflation before making any announcements around this.”
It is clear Draghi and his colleagues have got their work cut out for the next month and a half.
