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ECB will take the decision to buy sovereign debt on Thursday

Monday, Jan 19 2015
French President François Hollande said Monday the European Central Bank will announce plans to buy eurozone sovereign debt later this week, reinforcing expectations the Frankfurt-based institution will follow other major central banks into so-called quantitative easing.
 
“On Thursday, the ECB will take the decision to buy sovereign debt, which will provide significant liquidity to the European economy and create a movement that is favorable to growth,” Hollande said in a speech to business leaders at the Élysée Palace.
 
Euro managed to rebound during the tighter-range Monday's session and is currently being traded around 1.16 handle. We can expect steadier rest of the session with US banks being closed in observance of Martin Luther King's Day.
More in this category: « Sterling in stable above 1.51 area China's GDP rose by 7.3% in fourth quarter »

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