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ECB aftermath – Morning outlook 13th September

The ECB did part of what traders were expecting, but not all were happy with this as they know it will not do what is needed. The negative rates are not making a great deal of difference and the QE is very questionable. We are seeing the bounce on the basis as that they were not happy with the action taken, not because they are hawkish on the economy, but because it does not work!

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