The European Central Bank is not likely to ease monetary policy again this year, according to a slight majority of economists in a Reuters poll, and a strong majority say it should not consider "helicopter money" as a future stimulus measure.
The end of April ushers in a more fraught period after the firm early quarter investment inflows and quarterly corporate earnings report responses. It is no secret that 70% of all corporate earnings reports beat estimates each quarter regardless of economic conditions. That is due to downbeat original estimates, where earnings reports are then predictably a bit better than expected. The Q1 2016 reports have been very typical in that regard.
The European Central Bank decision and press conference today may not be quite the event that it was in March but with the bazooka still warm following last month’s antics, Mario Draghi may instead see today as an opportunity to take some of the fizz out of the euro, something he failed to do previously.