ECB’s Hansson on radio

August 3, 2012 Share Print 0

In an interview on radio this morning, ECB’s member Hansonn gave an interesting insight on the possible decision process for the ECB future non-standard plan.

Throughout the interview he clearly reiterated that a final decision had not been made and suggested that an internal discussion would have to take place.

He went on to suggest that the final decision on future sovereign bond purchases can be taken even without the Buba’s approval.

It was made clear that the decision would be made by a simple majority and Germany can be outvoted on the Governing Council.

Stated that the program will target short-dated bonds.

In yesterday’s ECB press conference Draghi highlighted that Germany was skeptical on further bond purchases.

The negotiation process will clearly be tough, however, the General Council will try to find an agreement with the Buba.

No matter what, the market is dictating that a decisive ECB policy action is strongly needed. The market is not content with the “hurry up and wait approach.”

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Dean Popplewell

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Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.