The floor appeared to have caved in for most equity markets in the initial part of last week. But Mario Draghi proved to be the knight in shining armour for the distressed financial markets, with his statement that the European Central Bank will consider further stimulus in its next meeting. Now, Janet Yellen and Bank of Japan Chairman, Haruhiko Kuroda, will come across as extremely insensitive if they do not follow Draghi?s lead in assuaging the battered market sentiments. Both the Federal Reserve?s and the Bank of Japan?s (BOJ) monetary policy meeting are scheduled this week. Yellen is expected to postpone further rate hikes till financial markets stabilise and the BOJ could announce some stimulus to aid the Japanese economy. These will help markets claw a little higher.
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