Preview - Analysts on the ECB (meeting next week) - no rate rise until 2020

The European Central Bank meet on March 7 2019, this via the latest Reuters poll of analysts on that to expect from the Bank

Major points:

• ECB to launch new long-term loans, over 90% of economists say; most expect by mid-year
• European Central Bank not likely to announce new loans or change rate guidance at March meeting
• ECB likely to delay hiking both refinancing and deposit rates to 2020

More:

• 60% of economists said there would be no change to rate guidance at the March 7 policy meeting or any official announcement yet of long-term loans
• "I think they (ECB policymakers) have missed the chance to normalise policy in this cycle. If anything they've been further pressurised to provide more accommodation in the next six or 12 months," … Capital Economics
• A new Targeted Long-Term Refinancing Operation (TLTROs) scheme could be launched as early as March, some respondents said. "The conclusion of QE is by no means a withdrawal of stimulus but merely a stop to the addition of further stimulus," said Marius Gero Daheim, chief euro zone strategist at SEB. "Should the slowdown prove more protracted, further stimulus could still be added around mid-year. The offering of another round of long-term funding for banks only functions to sustain the current amount of liquidity provision and prevent a tightening of liquidity conditions," he said.