10th Apr - ECB promises dovishness #4066

EUROPE

  EUROPEAN CENTRAL BANK

Monetary policy decisions – ECB

Introductory statement to the press conference – ECB

ECB Keeps Policy Unchanged as Euro-Area Economy Faces New Risks – BB

The decision buys time to assess prospects for the euro area’s weakened economy.

El-Erian: Why the ECB Won’t Loosen Its Policy Stance Further – BB

Any new measures would backfire if governments and lawmakers continue to sit on the sidelines.

ECB Watch: Opening the door for rate cuts – Nordea

While the ECB tries to sound optimistic, it has started to prepare for the realization of the downside scenarios. We think further rate cuts remain in the tool box, and more bad data would now more easily spur the market pricing of such moves.

Euro Tumbles After Draghi Issues 'Whatever It Takes' 2.0 Statement – ZH

ECB signals it is ready and able to act – ABN AMRO

What would the next steps be? Forward guidance change likely, easier conditions on TLTRO-III, tiering may not open the door for rate cuts, rising chances of QE-II

UNITED STATES

FOMC Minutes – ZH
"Patient" Majority Expect Rates On Hold, Some Hint At More Rate Hikes

OTHER

IMF says Germany, China and others might need fiscal stimulus – Reuters

IMF on Wednesday warned that fiscal stimulus could be needed in Australia, Germany, China and several other countries due to the risk of a sharper-than-expected economic slowdown.

Signs of global rebound are appearing – Pictet

At its Spring Meeting, the International Monetary Fund (IMF) revised downward its 2019 global growth forecast from 3.5% to 3.3% (the same as our own forecast).

REGULARS

Five Things to Start Your Day Asia – BB

Eco Day Asia – BB

Trump Trade Warning, IMF Cuts Outlook, Aussie Wage Rage * U.S. job openings fell in February by the most since 2015 * Italian government confirms gloomy forecasts for economy

Five Things to Start Your Day Europe – BB

EU Open Rundown – RANsquawk

FirstFT Daily Briefing – FT

Brussels Briefing – FT

The time out - is it wise for the EU to ease up and offer Britain more time?

Brussels Edition – BB

Brussels Playbook – Politico

Black holes, real and symbolic — EU blinks on Brexit — Bibi on top

Danske Daily – Danske Bank

ECB meeting and EU summit on Brexit take centre stage

Eco Day Europe – BB

ECB Decision Time, IMF Slashing, Trade Wars Drag On * IMF marks down global growth for third time in six months * Trump signals trade wars far from over with Europe targeted

Five Things to Start Your Day US – BB

US Open Rundown – RANsquawk

US Open – ZH

Stocks Bounce Ahead Of Wednesday's Data Deluge

Eco Day US – BB

Fed Minutes, Trump’s Trade War, ECB Decision Time * FOMC-watchers seek clues about what could end Powell patience * U.S., China are said to extend trade talks to cloud access

FINNISH

Aamukatsaus – Nordea

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