Analysts are split over what to expect from the European Central Bank (ECB) week, after central bank officials moved to downplay market expectations of immediate and substantial quantitative easing (QE).
The European Central Bank's Governing Body will conclude its policy meeting on September 12, with officials widely expected to cut interest rates and unveil fresh economic stimulus measures.
These have been mooted to include a change in forward guidance, rate cuts, a tiered deposit rate and recommencing asset purchases, or QE.of a substantial monetary stimulus package of late. French central bank President Francois Villeroy de Galhau and Estonian central bank President Madis Muller are the latest to cast doubt on the scale of intervention.
With Italy's economy stagnating in the second quarter while Germany, the euro area's largest economy, contracting and indicating further weakness to come, Singh suggested there was "little room for optimism on the economic outlook."
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