Rabo Bank: ECB Meeting- Preview

Quotes from Rabobank

• All eyes will be on ECB President Draghi this afternoon. With the press statement, technical annex, press conference and recently released "monetary policy accounts" of the 22 Jan council meeting, the ECB has already released a lot of details about its QE policy.
• Against that backdrop, today's ECB meeting and following press conference, which is taking place in Cyprus, is unlikely to bring a lot of new insights.  
  
  
• However, it seems fair to expect Mr. Draghi to provide more detail as to when purchases will start in earnest. 
  
  
• Another key question, which hasn't been answered officially yet, is whether the limited-risk sharing decision implies that there is also limited sharing of profits.  
  
  
• The ECB will also present new staff forecasts today.  We expect a significant downward revision in the inflation forecasts for 2015 and higher growth.