Given the color of the latest release of the Eurozone’s Industrial Production numbers, we certainly can’t fault the ECB for announcing a rate cut and a new round of QE this morning:
Question of course being, will yet more monetary stimulus, in an already sub-zero-interest-rate-Europe do anything for the real economy?
“They’re taking a hell of a risk with financial stability,” said Anatoli Annenkov, senior economist at Societe Generale in London.
and the markets
“…after initially rallying on the news, European government bonds gave up their gains. The euro, which weakened on the headlines, reversed its decline, and stocks swung between gains and losses.”