The European Central Bank will revise up its growth and inflation forecasts next week and keep interest rates unchanged as confidence among entrepreneurs and investors improves, Commerzbank AG predicts.
Highlighting the global economic data calendar this week is the U.S. employment report, which is projected to show the world’s largest economy gained more jobs in 2013 than at any time in eight years.
Jean-Claude Trichet had almost four years to settle into the role of European Central Bank president before being thrown into crisis-fighting mode. Mario Draghi goes to battle on day one.
The European Central Bank failed to fully offset the extra liquidity created by its bond purchases for the first time in seven months, a sign of mounting tensions among euro-area banks.
The European Central Bank left interest rates on hold as policy makers weigh their options to increase stimulus.
The European Central Bank kept interest rates unchanged as stronger inflation and economic output reduced the need for officials to take action.
"I think they're surprised by the market correction."
- Michael Schubert on Oct 16, 2014