Wall Street Almost Certain Fed and ECB Will Act

Markets now overwhelmingly expect significant action from the U.S. and European central banks, according to the latest CNBC Fed Survey.

In the survey of market participants, 89 percent said they believe the European Central Bank will purchase more sovereign debt and 78 percent said they expect the Federal Reserve to undertake additional quantitative easing.

In June, just 58 percent of respondents expected the Fed to act. The results are similar to those from October, 2010, a month before the Fed launched QE2, when 93 percent of respondents predicted the QE2 program….

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