The ECB is likely to keep a dovish tone but is not expected to take action this week. The central bank President Draghi is expected to argue that the measures undertaken in the past will be successful and will lead to a rebound in the outlook of core inflation. However, the ECB is expected to take a modest action in March. Meanwhile, flash PMI for euro area is likely to verify the strength seen in the final release of December, whereas the ZEW is likely to have adverse effects from market correction.


China Holds Loan Prime Rates Steady in January as Market Expectations Align
ECB’s Cipollone Backs Digital Euro as Europe Pushes for Payment System Independence
BOJ Holds Interest Rates Steady, Upgrades Growth and Inflation Outlook for Japan
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices
Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty




