As we’ve entered panto season, it’s time to find out what type of show Draghi is going to put on
The consensus from the banks is pretty uniformed. A 6-9 month extension, and QE remaining at €80bn. If we get that then the market would have pretty much hit the nail on the head. The euro may drop on the confirmed ‘pedal to the metal’ but we’ve seen often enough that the expected reaction doesn’t last, as far as central banks go.