CIBC Sees ECB Starting to Change Language at March Meeting

The transcript discusses the European Central Bank's (ECB) language changes and their impact on market volatility. It speculates on the ECB's future actions, including interest rate changes and quantitative easing (QE) tapering. The discussion also covers euro volatility, comparing it to other currencies, and forecasts the euro's appreciation. Political factors, such as the Italian vote and German uncertainties, are considered in the context of currency volatility.

How did the market react to the ECB's language changes compared to December?

• The market was more volatile this time.

• The market was less affected this time.

• The market ignored the changes completely.

• The market reacted the same as in December.

What is expected to happen at the ECB's March meeting?

• A decrease in interest rates.

• A focus on inflation control.

• An increase in bond buying.

• A change in language and policy.

What is the expected trend for the euro in the coming months?

• A rapid depreciation.

• A steady appreciation.

• No significant change.

• A volatile fluctuation.

How does the euro's implied volatility compare to yen and sterling?

• Higher than both.

• Lower than both.

• Higher than yen but lower than sterling.

• Lower than yen but higher than sterling.

What political factors are mentioned as influencing euro volatility?

• The US-China trade war.

• The French election.

• The Italian vote and German uncertainties.

• Brexit negotiations.