Uh, Oh ECB!

So much for the ECB not considering quantitative easing! All of a sudden...Gold is recovering well...because of this?

09:41 03/30 ECB VIEW:

Recent remarks by ECB officials have the market pricing in a 50 bp cut in the refi rate and "the chance of the ECB adopting or announcing some form of conventional Quantitative Easing (QE) (such as the purchases of corporate credit) by the ECB this Thursday," say strategists at Barclays Capital. Their Economics team looks for the refito be cut by 50bps (to 1.0%) and for the deposit rate to be cut 25 bps to 0.25%) and "do not rule out the ECB announcing an extension of the maturity of its longer-term refinancing operations to 9 and 12 months ro the possibility of making purchases of corporate credit." With the market leanings towards a QE announcement, failure to implement QE could see "some reversal of the euro's recent decline," the strategists say.