Credit Suisse the European Central Bank will cut interest rates next month and the expansion of QE truffe

Credit Suisse: the European Central Bank will cut interest rates next month and expand QE U.S. stock market center: exclusive national industry sector stocks, premarket after hours, ETF, real-time quotes figure warrants the European Central Bank President Delagi Sina stocks news Beijing time 26 days morning news, the European Central Bank will hold a meeting in March 10th, Credit Suisse economist (Credit Suisse) the European Central Bank is expected to further reduce the deposit rate by 10 basis points, at the same time to extend and expand quantitative easing (QE) scale. Credit Suisse expects the European Central Bank to expand QE by building and buying credit ETF (corporate debt) to enhance the transmission efficiency of monetary policy. In fact, further easing of the ECB is expected to be one of the drivers of the recent rebound in global risk assets. Credit Suisse expects to be in line with most of Wall Street’s investment banks, such as Goldman Sachs, but Credit Suisse doesn’t think the ECB’s easing will lead to the devaluation of the euro. By contrast, Goldman Sachs, Deutsche Bank and others expect the euro to depreciate sharply and fall rapidly to parity. Credit Suisse analysts stubbornly insist that the euro will rise to 1.17 against the dollar in the next 3 months, on the grounds that the market is easing the ECB, leading to a high threshold for the fall of the euro may be high. Indeed, this year, the BoJ and the Swedish central bank have made radical changes in policy and implemented negative interest rates, but after a short period of devaluation, there is a large appreciation. Credit Suisse acknowledges that if the ECB relaxed, the euro appreciation would be a policy maker’s unwilling to see, and it could not raise inflation expectations in the euro area. By adjusting the position and the sentiment of the previous market over bearish euro, "any lower than expected or interpreted negative news will easily push the euro up," the Credit Suisse report said. However, considering the euro zone’s economic structure and cyclical weakness at the same time, Credit Suisse sees the short-term inflation as a longer selling opportunity. At present, the credit exchange rate of Credit Suisse against the euro dollar against the US dollar in the next 1 years is 1.10. (Tony compiler) Chengwei Section Editor: SF132

瑞信:欧央行下月将降息并扩大QE 美股行情中心:独家提供全美股行业板块、盘前盘后、ETF、权证实时行情 图 欧洲央行行长德拉吉   新浪美股讯 北京时间26日上午消息,欧洲央行将在3月10日召开议息会议,瑞士信贷(Credit Suisse)经济学家预计欧洲央行将进一步削减存款利率10个基点,同时延长并扩大量化宽松(QE)规模。   瑞信预计欧洲央行可能通过构建并买入信用ETF(即企业债)的方式来扩大QE,以提升货币政策的传导效率。事实上,对欧洲央行进一步宽松的预期是近期全球风险资产反弹的动力之一。   瑞信这一预期与高盛(Goldman Sachs)等大部分华尔街投行一致,不过瑞信并不认为欧央行扩大宽松将会造成欧元贬值。相比之下,高盛、德意志银行(Deutsche Bank)等大行都预计欧元还将大幅贬值并很快跌至平价。   瑞信分析师“顽固地”坚持欧元兑美元未来3个月升至1.17的判断,理由是现在市场对欧洲央行宽松导致欧元下跌的门槛可能很高。的确,今年日本央行和瑞典央行都做出了激进的政策转变,实施负利率,然而短暂的货币贬值之后却出现大规模升值。   瑞信承认,如果欧洲央行宽松反倒造成欧元升值,将是政策制定者所不愿意看到的,也无法提升欧元区持续下降的通胀预期。   受头寸调整和此前市场过度看空欧元的情绪影响,“任何低于预期或被解读为负面的消息都会轻易地推动欧元大涨,”瑞信报告指出。不过,考虑到欧元区经济同时陷入结构性和周期性疲软,瑞信将短期的大涨视为更长期的卖出机会,目前瑞信对欧元兑美元未来1年的汇率预测为1.10。(Tony 编译) 责任编辑:段呈伟 SF132相关的主题文章: