Regarding Carsten Brzeski, the main economist at ING, the ECB today surprised everyone by announcing a new number of measures, trying to avoid an unwarranted strictness of its monetary status.
What did the ECB announce?
- An alteration in forwarding guidance on rates to, "interest rates to keep at their present levels at least through the final of 2019", from "through the summer of 2019".
- A fresh targeted longer-term refinancing procedure (TLTRO) with a quarterly frequency from September 2019 until Drive 2021, at the refi rate without longer at the deposit rate.
What does this mean?
The press conference will hopefully shed some more light on the reasons for the ECB's decision.
Or better, the time of the ECB's decision. The measures, consequently, are not a major delight however the moment of the announcement is.