From the FXWW Chatroom: All eye Thu ECB meeting; majority of analysts see ECB extending QE by
9-months at E30bln/month while some expect a 12-mo and some a 6-mo extension:
* Goldman: Maintain our dovish view, expect ECB to announce 12-month tapering
worth a cumulative E360bln, possibly tapering in a linear way, but more likely
via a reduced monthly rate of E30bln, QE cease by end-2018.
* Pictet Asset Mgmt: expects 9-mo extension of QE at E30bn/mo with some changes
to QE composition and reinvestment policy.
* RBC: Look for reduction of at least E30bln in net terms with duration
remaining opened ended but with at least a 9-mo end date. Forward Guidance
should be strengthened and re-iterated.
* Soc Gen: 9-mo extensions at E25bln p/m, possibly buy debt with longer
maturities. Keep door open to more QE thereafter if needed; keep rate hikes for
Mar, Jun 2019 to put an end to negative deposit rate.
* Barclays: Expect 9-mo extensn at E30bln/mo, don’t rule out 12-mo at E20-25B.
Believe frwrd guidance left unchanged now, amended Q2 2018: 1st depo rate hike
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