ECB’s Makuch says decision on QE depends on effect of current stimulus

• probability of non-standard measures always grows when expectations change in negative way
• Dec LTRO should be a “bit better” than September’s EUR 82.6 bln

Couldn’t be much worse

Josef Makuch, head of Slovak cb and ECB governing council member, on the wires

The next TLTRO is this Thursday and I shall be writing a preview tomorrow

ECB’s Makuch- in no rush for QE it would appear