Thursday, 7 May 2009

The ECB is on the move

The ECB cut rates with an unsurprisingly 25 bp. But Jean-Claude T launced afterwards some very remarkable proposals: additional repo operations, Repo ops with 12 month maturity, quantitative easing, purchase of covered bonds, EIB is becoming a counterparty.
Unconventional measures for the ECB? Remarkable.
Apparently, things are not that rosy as (European) exchanges think.
Gold is soaring.
Na why should that be…
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