Some thoughts on ECB QE and the implications for other central banks from Standard Bank:
- Says the ECB QE initiative will have the effect of a relative tightening elsewhere
- Thinks the Swiss National Bank will want to ease further to take some pressure off the CHF
- Says the effect on the Federal Reserve may be enough, given the impact on inflation of falling oil prices, to delay tightening … says “the Fed won’t engage interest rate lift-off until September at the earliest, rather than the mid-year period that’s talked about by some FOMC officials and which seems to be the favourite of most analysts in the market.”
EUR/CHF traded higher in the overnight, some consolidation here in the early Asian morning though:
