Australian shares are set to open higher, bolstered by a broad rally in New York. Oil, iron ore ease. $A surges 2 per cent. Follow updates here.
Capital Economics’ markets economist Franziska Palmas said the ECB’s policy tweak will prove far too little.
“The worsening of the sell-off in euro-zone peripheral bond markets over the past week or so... was arguably in large part of the ECB’s own making – finally prompted the ECB into action today.” “Our sense is that the Governing Council’s failure to make a stronger commitment will lead investors to start testing the ECB resolve again before long. After all, the only measure that the ECB committed to implementing is flexible reinvestments.”
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