Relevant:
- Federal reserve cuts target interest rate to zero to support economy during coronavirus pandemic
- Mario Draghi: ECB prepared to cut interest rates and expand QE (AKA "DO WHATEVER IT TAKES 2.0"...)
- Quantitative Easing - get ready for the new media buzzword
- Fed Signals More Rate Cuts as Officials Cite Market Stresses
- China Joins Global Easing Party By Cutting The Lending And Deposit Rates By 25 bps
2016-03-11 — bloomberg.com
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."
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