ECB’s Liquidity Drive

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All eyes are fixed on the outcome of the second Long Term Refinancing Operation (LTRO) by the ECB due later today wherein market expects a take up of about €500 billion by the region’s banks. However, with the puzzle lying in determining the quantum of allotment which can be termed as “good” or “bad”, market believes that more the liquidity the better it is for the Euro. Across the Atlantic today, markets keenly await GDP data and Bernanke’s testimony.

At home, following unchanged consumer confidence data released earlier today, data just released indicates that mortgage approvals and consumer credit rose for January.

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ECB’s Liquidity Drive

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