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ECB announces: Printing 60 billion Euro/month

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  • Thu, Jan 22, 2015 - 02:05pm

    #2

    davefairtex

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    Joined: Sep 03 2008

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    ECB announces: Printing 60 billion Euro/month

The 60B/month is slightly higher than the trial balloon yesterday.  80% of buying needs to come from national central banks, and it must only be "investment grade" debt.  Whatever "investment grade" means in the Eurozone these days.

Immediate market reaction: gold up a bit (+0.80, but +10 from the point of the announcement), oil down a bit, euro down (-0.67%), US equities unchanged (although they rallied in anticipation of the announcement).