Quotes from Lloyds Bank:
- The coming week is likely to again be dominated by speculation over the next moves of central banks. Six of these will hold policy meetings including those of the UK, Australia, Canada, India and Poland. The ECB (Thurs) will likely get most attention.
- The last ECB policy meeting saw the announcement of its QE programme but some of the detail remains to be filled in. We should also get more detail on whether the ECB plans to restore Greek banks full access to open-market operations or whether the banking sector will for now have to rely on the Emergency Liquidity Assistance (ELA) programme. The latest ECB staff projections will also be released and these will be watched for indications of the likely effectiveness of the policy moves. Any upward revision to 2016 inflation may be seen as a sign that the QE programme could end before September 2016.
- Key data in the euro area include German industrial production (Fri), which is expected to show that the combination of the weaker euro and lower oil price is helping to boost activity. Euro area headline CPI inflation (Mon) for Feb is forecast to show a smaller decline than in Jan, and already released German and Italian data point in that direction. The 'core' rate may also edge higher but could fall again over upcoming months.
