Investors remained cautious ahead of the ECB meeting and the EU summit. There were mixed opinions on whether the summit would be a fruitful one. A report said that an unnamed senior German official stated that ‘we are now more pessimistic than last week over a significant summit deal’. Yet, France pledged to secure a ‘powerful’ deal. The ECB is expected to cut the main refinancing by at least -25 bps. It is also likely to extend 2-year loans to banks and widen the range of acceptable collateral.
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Investors Await ECB and EU Summit
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