You know the drill: 45 minutes after the ECB announcement we get the presser. Will Draghi say anything catalytic? Most likely not: the only variable is whether or not Draghi sees a reduction in inflation and growth (despite all the recent irrational euphoria from various sellside desks), leaving the door open for negative deposit rates. Remember: the "bazooka variable" - the OMT - is now solely in Spain's, and out of the ECB's, hands now.
- *DRAGHI SAYS ECB CUT GROWTH FORECASTS, SEES `DOWNSIDE RISKS'
- *DRAGHI SEES WEAK GROWTH EXTENDING INTO 2013 BEFORE RECOVERY
- *DRAGHI SAYS GOVTS MUST REDUCE FISCAL STRUCURAL IMBALANCES
- *DRAGHI SAYS FISCAL POSITION IN U.S. MAY DAMP CONFIDENCE LONGER