ML-Implode News - ECB "Overdelivers" With New Easing Moves; But Says No More Rate Cuts

Markets were whipsawed in the wake of the ECB's policy announcement, which included a reduction in borrowing costs and an expansion of the central bank's quantitative-easing to corporate bonds, before Draghi asserted that he didn't anticipate cutting interest rates further. Central banks remain key to the health of the global economy, with measures by the People's Bank of China and separate meetings next week by the U.S. Federal Reserve, the Bank of Japan and Bank of England all closely watched.
...
"The ECB overdelivered, as we thought they would, albeit in a more complex configuration than we looked for," Peter Chatwell, head of rates strategy at Mizuho International Plc in London, wrote in a note to clients. "The negative market reaction appears more linked to rate cuts being priced out. The market will get over this."

Relevant:

ECB "Overdelivers" With New Easing Moves; But Says No More Rate Cuts