2016-03-09bloomberg.com

Mario Draghi is having no success convincing stock investors that the European Central Bank has the firepower to reignite growth... While all economists in a Bloomberg survey expect the central bank to cut interest rates when policy makers meet Thursday, and 73 percent project them to boost the amount of money put into the financial system through bond purchases, fund managers aren't optimistic about a post-decision equity rally.

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Even after the central bank pumped about 720 billion euros ($794 billion) into the region, manufacturing dropped to its lowest level since 2013, the inflation rate turned negative, and consumer confidence worsened. That's led analysts to slash profit-growth estimates amid the worst earnings letdown since at least 2007. Investors are pulling money out of European equities at the fastest pace since 2014.

See also Why a Recession Could Mean the End of the Euro Zone.



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