My bookmarks

Pins are saved using cookies. Deleting them from your browser will delete your preferences.

Menu
News 

Preview of ECB meeting

24 October 2018

The ECB will hold a press conference tomorrow and we do not expect any change to forward guidance.

We believe the ECB could modify, marginally, the Statement by dropping the sentence in which “incoming data” conditions the end of net purchases and points to a definitive end in December. We do not expect any details about the reinvestment program but we could have some information in the Q&A. M. Draghi indicated at the last press conference, that a taskforce was working on a new reinvestment policy. 

The global outlook indicates downside risks rather than balanced risks: Eurozone PMI, released today, suggests moderate growth. Nevertheless, the ECB is unlikely to change its neutral stance about risks, probably waiting for more data. Economic forecasts will be updated in December. The Inflation path points to a very slow normalization: price pressures are supported by wage growth across several countries in the Eurozone and should sustain more core inflation in the coming months. The ECB should stay confident on this topic: Mr. Draghi qualified recently inflation as “vigorous”.

La Française Group provides access to the expertise of a number of asset management companies around the world. To provide you with the most relevant information, we have developed an interface to present the full range of products available for your investor profile and country of residence.
Present yourself
1
Country
2
Language
3
Profile
Your country of residence
Your language
Your profile
<p class="new-disclaimer__legal-notice">Before consulting this website, for your protection and in your interest, please read the “<a href="en/legal-notice/" target="_blank">disclaimer</a>” and “<a href="en/regulatory-information/" target="_blank">current regulations</a>” carefully. This information explains certain legal and regulatory restrictions which apply to individual and professional investors according to local law. By accessing this site, in my non-professional or professional capacity, I acknowledge that I have read and accept the terms and conditions of use. Pursuant to the application of the European Markets in Financial Instruments Directive (“MiFID”), please state to which category of investor you belong&nbsp;:</p>
<p class="new-disclaimer__legal-notice">Before consulting this website, for your protection and in your interest, please read the “<a href="en/legal-notice/" target="_blank">disclaimer</a>” and “<a href="en/regulatory-information/" target="_blank">current regulations</a>” carefully. This information explains certain legal and regulatory restrictions which apply to individual and professional investors according to local law. By accessing this site, in my non-professional or professional capacity, I acknowledge that I have read and accept the terms and conditions of use. Pursuant to the application of the European Markets in Financial Instruments Directive (“MiFID”), please state to which category of investor you belong&nbsp;:</p>
By continuing browsing on this website, you accept the use of cookies and other tracing devices s as to allow you to receive information suited to your profile, facilitate information sharing on social networks, guarantee the best browsing experience possible and to create statistics. To find out more, we invite you to consult our Privacy and Cookies policy. Find out more.