ECB Preview: Here's the thoughts of a few major banks
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Plenty of banks out there offering client notes ahead of the ECB today 2 June 2016
These courtesy of MNI.
today's meeting, with focus on implementation of corporate sector purchase
program (CSPP) and new LTRO-II
Citi: Large majority to agree maintaining accommodative stance, door left open
for further stimulus i.e; 6-month APP extension & possible cuts in Refi rate.
Commerzbank: The GC is likely to sit tight. Updated ECB projections likely to
support holding stance.
BNP: ECB to focus on implementing existing measures, expect projections to
show rise in headline CPI and see ECB extending APP to Sep 2017 at Sep meeting.
Rabo: ECB to focus on implementation of TLTRO-II & CSPP. See no material changes to staff projections but with upside risk to CPI. Q&A on Greece/Brexit.
LLoyds: No change in policy expected as Bank focuses on implementing existing
stimulus polices, could see upward revision to CPI and growth.
Goldman Sachs: Says tone of the statement and the press conference shifts to a
more neutral tone with a focus on implementing the package announced in March.
BAML: Expects plenty of questions on Greece, the waiver, and QE.
source