Draghi Could Announce Bond buying for Spain, Italy

Draghi Could Announce Bond buying for Spain, Italy


Quotes from Standard Chartered:
-European Central Bank (ECB) president Draghi raised market expectations when he announced last week that he will do "whatever it takes to preserve the euro", adding "believe me, it will be enough"
-At Thursday's meeting, we think Draghi will commit to reactivating the peripheral bond buying programme (SMP), although he is likely to stress the need for conditionality, with the SMP as a 'temporary' bridge to the ESM, the permanent rescue mechanism.
-Draghi is likely to announce a 1Y LTRO. The ECB's statement could pave the way for a rate cut in September as activity continues to weaken. In the afternoon, Italy's PM Mario Monti will meet Spain's PM Rajoy after having met Finland's PM Katainen.




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