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Wysłany: Pią 5:48, 04 Mar 2011 Temat postu: The ECB is not expected to hike |
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The ECB is not expected to hike
The ECB is not expected to hike
ECB president Jean-Claude Trichet is expected to talk about rising inflation pressures and the possibility of raising key rates. The ECB rate announcement is due at 7:45 a.m. EST, and the [link widoczny dla zalogowanych] press conference at 8:30 a.m."Although the ECB is not expected to hike, Trichet is expected to take a more vigorous focus on the inflation backdrop," said RBC Capital Markets in a note to clients. "If nothing else, such a tone would highlight again the divergent forces that are affecting European monetary-policy makers as opposed to the forces at work on the U.S Federal Reserve."
However, not all traders were convinced the ECB will be hawkish, with some saying the indexes could fall into the red if the central bank doesn't send out the right message.Among the day's gainers were Anheuser-Busch InBev, which reported fourth-quarter earnings that impressed the [link widoczny dla zalogowanych] market, and in the U.K. IMI. InBev's shares rose 2%. IMI led the FTSE 100, rising 6% after beating consensus forecasts with its full-year earnings; AMEC was close behind after similarly impressing investors,[link widoczny dla zalogowanych], advancing 5.9%.
The purchasing managers' index for the U.K. services sector will be released at 4:30 a.m. EST, euro-zone fourth-quarter GDP is due at 5:00 a.m. and the Institute for Supply Management's non-manufacturing data at 10:00 a.m.Overnight, Asian stock markets rose as many investors took the [link widoczny dla zalogowanych] opportunity to buy beaten-down stocks, although the rally was kept in check by lingering concerns about the Middle East turmoil and its impact on oil prices.
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