Watch The Jean Claude Trichet Teleconference Live

Tyler Durden's picture

Those who wonder what JC Trichet has to say about the future of ECB monetary policy can do so below. So far the euro is not happy, in line with expectations that future rate hikes now appear very much in doubt. Some of the key highlights so far:

  • ECB's Trichet says underlying pace of monetary expansion is gradually recovering
  • ECB's Trichet says interest rates remain low and overall monetary policy stance remains accommodative
  • ECB's Trichet says rate move will help anchor inflation
  • ECB's Trichet says further adjustment on monetary policy stance is warranted
  • ECB's Trichet says non-standard measures are only temporary
  • ECB's Trichet says to monitor "very closely" all developments
  • ECB's Trichet says omits "monitor very closely" comment on prices in opening section of statement, comment he used after April rate hike
  • ECB's Trichet says to adjust liquidity provisions if and when appropriate
  • ECB's Trichet says recent surveys and data point to continued economic growth in Q2 but slower pace
  • ECB's Trichet says risks to economic outlook remain "broadly balanced"
  • ECB's Trichet says inflation rates are likely to stay clearly above 2% over coming months