Euro Crisis : Markets Await Key ECB Meeting

Expectation is mounting ahead of Thursday’s key meeting of European Central Bank (ECB) officials, following president Mario Draghi’s promise the institution would do “whatever it takes” to save the euro.

The ECB’s options range from buying more bonds of troubled member states like Italy and Spain, to making more cheap cash available to banks, or cutting interest rates.

Chief economist at forex broker FxPro, Simon Smith told The Guardian this morning the single currency was “particularly sensitive to any disappointment later this week”. Market expectation demanded the ECB followed through with more concrete measures to keep borrowing costs of troubled nations down, he said.

Yield on Spanish ten-year bonds crept up two basis points this morning, to 6.66 per cent while Italian bonds were up one point, to 6.04 per cent.

 

 

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