Baku. 7 December. REPORT.AZ/ Global foreign exchange market is waiting for results of a meeting of European Central Bank (ECB) on December 8.
Analytical Group of Report informs, decision of this meeting is more important than the outcome of the meeting of the US Federal Reserve System (Fed) which will be held on December 13-14. Thus, there is no doubt that the Fed will increase discount rate and the decision reflected in the exchange rate of the US dollar compared with world currencies. Over the last month most of the world currencies fell compared with dollar.The result of the ECB's meeting remains uncertain. So, most analysts and experts believe that the ECB will put an end to the monetary stimulus.
Analysts of Report believe, taking into account an annual GDP growth of 1.7% and 0.3% decline in third quarter in Eurozone, we can see that target of ECB's stimulus program has not been reached.
According to the latest statistical report, inflation was 0.6%, at a minimum, and unemployment was 9.8% at maximum level.Germany is the only country of the region with sustainable economic development.
"Taking into account the above mentioned factors the ECB's monetary policy will not change and stimulus program ended in March will further continue.There is also a need to emphasize that the at the moment there is no alternative to the ECB's monetary policy instruments", the analysts added.
Agency experts believe that the fall in the euro will increase the export potential of the euro area. Therefore, ECB President Mario at tomorrow's meeting is expected to make a decision supporting the euro. On this occasion, US-dollar may sharply increase and reach parity. This, in turn, will continue devaluation of most currencies of the world.