What Wall Street Expects From Mario Draghi Today

While the ECB’s announcement is due out in minutes, the only thing the market is looking forward to is Draghi’s actual press conference due to take place in exactly one hour. It is here that the former Italian and Goldman banker is expected to take jawboning to new levels, even if – as is customary – he actually does nothing and considering the ECB’s balance sheet, which after all its private covered bond and ABS QE is growing at the “torrid” pace of some 4 billion per week, not even enough to offset the natural decline in the ECB’s balance sheet, his actions so far have achieved absolutely nothing the algos are starting to get impatient.
That said, in also keeping with traditiona, no analyst is actually willing to step out of line and forecast anything market-moving.
Here, courtesy of RanSquawk, is a summary of what Wall Street’s individual banks expect from Draghi in a few minutes.
Host of tier 1 investment banks have recently revised their base case scenarios for an ECB QE programme from a ‘No/unlikely’ to a 1H 2015 timeframe Despite the likelihood of an ECB sovereign bond purchase programme in the near-term it is highly unlikely that this week’s meeting will see the unveiling of such stimulus Q&A session may garner particular focus given the recent slide in oil prices

This post was published at Zero Hedge on 12/04/2014.