We Expect QE From ECB in 1Q of 2015: StanChart

The transcript discusses the European Central Bank's (ECB) unanimous decision on quantitative easing (QE) and the target to move the balance sheet back to March 2012 levels, aiming for €3 trillion. It explores the timing of QE implementation, with expectations for sovereign bond buying in the first quarter of next year. The discussion highlights the insufficiency of current measures to impact inflation and growth significantly. The transcript also considers market reactions and upcoming data, suggesting potential ECB action if inflation and survey data deteriorate.

What was the target balance sheet level that the ECB aimed to return to, as discussed in the first section?

• €3 trillion

• €2 trillion

• €4 trillion

• €5 trillion

What was the general tone of the ECB's news conference regarding growth and targets?

• Optimistic

• Neutral

• Bearish

• Uncertain

When is the ECB expected to start quantitative easing in terms of sovereign bond buying?

• Second quarter of next year

• First quarter of next year

• Third quarter of next year

• Last quarter of this year

What could prompt the ECB to act sooner than expected?

• Stable economic forecasts

• Improvement in survey data

• Increase in core inflation

• Deterioration in survey data and lower inflation

What is the significance of the ECB's €3 trillion balance sheet target compared to other central banks?

• It matches the actions of other central banks

• It is a fraction of what the Fed and Bank of England have done

• It is smaller than the Bank of England's past actions

• It is larger than the Fed's past actions