ECB to announce 6-month extension of QE - Reuters poll

Ahead of the much anticipated ECB monetary policy meeting on December 8, Reuters published the results of a poll of 70 economists and expect that the central bank is likely to extend its QE program for 6-month, beyond March.

Key findings:

•   announcement expected to be made at 8 Dec meeting
•   size of QE remains unchanged
•   poll sees EZ GDP to grow 1.65 in 2016, 1.4% in 2017 and 1.5% in 2018 vs 1.6%,1.4% and 1.6% previous
•   EZ inflation to average 0.2% in 2016, 1.35 in 2017 and 1.5% in 2018, unchanged vs previous poll

At the time of report, the EUR/USD pair traded higher for the second consecutive session and held on to its recovery gains beyond mid-1.0600s.