Draghi stalls for time on QE details

The European Central Bank’s (ECB) Governing Council decided to keep interest rates unchanged at their meeting on 7th September.  Importantly, it did not provide any details on the future of its quantitative easing (QE) programme, which is due to end in December. The ECB has typically announced changes in its QE programme three months ahead … Continue reading “Draghi stalls for time on QE details”

France matters

Governments come and go in the Euro area. It often makes little difference to investors. The Euro sails on, the European Central Bank sets interest rates, economic policy has to bow to the deficit requirements and other rules of the EU. The scope for individual country differentiation is narrow. Countries that defy the scheme deliberately … Continue reading “France matters”

The euro on the ballot paper?

What impact will the looming elections in Europe have on the euro and the markets? Revolts against the political establishments of advanced countries are becoming commonplace. The Brexit and Trump decisions have so far been positive for shares in the UK and US, despite big doubts and unhappiness for many in markets on the news. … Continue reading “The euro on the ballot paper?”