While equity markets are giving up the kneejerk gains after the ECB's decision to make no decision and keep rates unchanged, we await the much more interesting twists and turns of Draghi press conference and Q&A. From EU-wide bank audits to fragmentation and from OMT's promise to easing collateral standards for ABS buying, there is bound to some fireworks (leaving aside his likely admiration for Abe) especially if he hints at negative rates. We look forward to his explanation of the dichotomy of a conditional OMT and the easing of fiscal targets across almost every nation. Popcorn, ready...
- *ECB SEES 2013 GDP -0.6%
- *DRAGHI SEES DOWNSIDE RISKS TO ECONOMIC OUTLOOK
- *DRAGHI SAYS MONETARY, LOAN DYNAMICS REMAIN SUBDUED
- *DRAGHI SAYS ECB TO KEEP POLICY ACCOMMODATIVE AS LONG AS NEEDED
- *DRAGHI SAYS SENTIMENT INDICATORS SHOWED SOME IMPROVEMENT