NO CHANGE: ECB DOES NOT REVERSE ITS RATE HIKES

trichet pissed stretched

Update:

The ECB has not changed its rates. It has not reversed its rate cuts.

It has not followed the BoE with a surprise dovish move.

The big question, of course, is what Trichet says at his press conference, whether he sets the hint of easing to come.

A big pre-market rally is fading. Dow futures just up 50.

The full announcement is here.

 

Original post: The Bank of England surprised this morning with its decision to expand its bond-buying program, officially doing QE2 UK-style.

Now up: The ECB.

Most analysts expect the bank to be on hold, and not reverse the multiple rate cuts from earlier this year, but who knows. (Full preview here.)

Decision out at 7:45 and press conference at 8:30.

Stay tuned.

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