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Mario Draghi's "All Talk" ECB Press Conference - Live Feed

Tyler Durden's picture




 

We look forward to more jawboning, more promises, and more hope that fiscal policymakers enact reforms as ECB chief Mario Draghi explains how doing nothing on rates (they are at the limit) and QE (zee Germans) is still the most dovish thing because they might possibly maybe kinda sorta do it in the future...

 

  • *DRAGHI SAYS ECB TODAY WILL DISCUSS INFLATION STRATEGY: CORRIERE
  • *DRAGHI SAYS ECB COMMITTED TO INFLATION TARGET: CORRIERE SERA
  • *DRAGHI SAYS FISCAL POLICY NEED TO PLAY KEY ROLE: CORRIERE SERA
  • *DRAGHI SAYS STRUCTURAL REFORMS NEEDED TO SUPPORT FISCAL POLICY

Draghi Live Feed:

Key highlights:

  • DRAGHI SAYS ECB DECIDED ON ABS, COVERED BOND PURCHASE PROGRAM   
  • DRAGHI SAYS ECB WILL BUY ABS FROM 4Q  
  • DRAGHI SAYS ECB WILL BUY COVERED BONDS FROM MID OCT  
  • DRAGHI: ECB TO BUY COVERED BONDS IN MID OCT, ABS IN 4Q OF 2014  
  • DRAGHI SAYS PURCHASE PROGRAMS TO LAST TWO YEARS  
  • DRAGHI SAYS PURCHASES WILL HAVE SIZEABLE IMPACT ON BAL SHEET  

Via Bloomberg, here is the usual daily dose of jawboning markets this war or that, but mostly higher:

  • DRAGHI SAYS SUBDUED CREDIT REFLECTS WEAK ECONOMY, CREDIT RISK   
  • DRAGHI: WILL MONITOR GEOPOLITICAL, EXCHANGE-RATE DEVELOPMENTS   
  • DRAGHI SAYS UNDERLYING GROWTH IN BROAD MONEY SUBDUED   
  • DRAGHI: WILL MONITOR IMPACT OF LOW GROWTH, POLICY PASS-THROUGH   
  • DRAGHI SAYS ECB TO CLOSELY MONITOR MEDIUM-TERM INFLATION RISKS   
  • DRAGHI SEES INFLATION INCREASING GRADUALLY IN 2015, 2016   
  • DRAGHI SEES INFLATION AT LOW LEVELS OVER COMING MONTHS   
  • DRAGHI SAYS ECONOMIC SLOWDOWN MAY DAMP INVESTMENT   
  • DRAGHI SAYS GEOPOLITICAL RISKS MAY DAMP CONFIDENCE   
  • DRAGHI SAYS RISKS TO ECONOMIC OUTLOOK ARE ON DOWNSIDE   
  • DRAGHI SAYS UNEMPLOYMENT, UNUTILIZED CAPACITY TO DAMP RECOVERY   
  • DRAGHI SAYS OUTLOOK FOR MODERATE RECOVERY IN 2015 IN PLACE   
  • DRAGHI: DOMESTIC DEMAND BOLSTERED BY ECB POLICY, GOVT REFORMS   
  • DRAGHI SAYS ECB TO PROVIDE DETAILS ON PURCHASES AT 3:30 PM CET   
  • DRAGHI SAYS SURVEY DATA STILL CONSISTENT WITH MODEST EXPANSION   
  • DRAGHI SAYS SURVEY DATA INDICATE LOSS IN GROWTH MOMENTUM   
  • DRAGHI: ECB UNANIMOUS ON USING ADDITIONAL MEASURES IF NEEDED   
  • DRAGHI: WILL USE UNCONVENTIONAL TOOLS WITHIN MANDATE IF NEEDED   
  • DRAGHI SAYS COUNCIL UNANIMOUS IN COMMITMENT TO ACT IF NEEDED   
  • DRAGHI SAYS MEASURES WILL HELP PUSH INFLATION CLOSER TOWARD 2%   
  • DRAGHI: DETERMINED IMPLEMENTATION TO UNDERPIN INFL ANCHORING   
  • DRAGHI SAYS PURCHASES TO STRENGTHEN FORWARD GUIDANCE   
  • DRAGHI SAYS ECONOMIC MOMENTUM HAS WEAKENED   
  • DRAGHI SAYS PURCHASES SHOULD EASE POLICY STANCE   
  • DRAGHI SAYS INFLATION OUTLOOK SUBDUED   
 

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Thu, 10/02/2014 - 08:30 | 5279289 gatorengineer
gatorengineer's picture

This just in... A Chimpanzee with a Pipewrench was seen headed towards the Comex Gold pit......  Monkey hammering to be expected....

Thu, 10/02/2014 - 09:12 | 5279484 Manthong
Manthong's picture

"Eef tey toont lend..."

F.U.

Thu, 10/02/2014 - 08:37 | 5279313 stinkhammer
stinkhammer's picture

Can you get Draghi from banker vomit?

Thu, 10/02/2014 - 08:52 | 5279390 BaghdadBob
BaghdadBob's picture

Not sure. But I think I can get 'Euthanise this cunt' from 'Ex-Goldsquid turd'.

Thu, 10/02/2014 - 08:39 | 5279322 LULZBank
LULZBank's picture

The day Europe stops paying attention to this gentleman, half their problems will be solved.

They hate indifference and not getting any attention.

Thu, 10/02/2014 - 08:44 | 5279346 tostaky06
tostaky06's picture

Merkel should make her own EU, almost cause of him and BCE ... 

Thu, 10/02/2014 - 09:00 | 5279423 ghostofgo
ghostofgo's picture

Draghi better be careful or he is going to develop highly asymmetric wrinkles.

Thu, 10/02/2014 - 08:59 | 5279424 withnmeans
withnmeans's picture

Need WilliamBonzai to paste a pic of him next to a pic of Gonzo from Muppet fame, are they one in the same?

You be the Judge.... Falls right in line with the Goldman Muppet Club.

Thu, 10/02/2014 - 09:03 | 5279439 Al Huxley
Al Huxley's picture

'Come on liar man, weave your web!'

'I got nothing Jerry!'

Thu, 10/02/2014 - 09:17 | 5279475 ebworthen
ebworthen's picture

Oh God...Central Banker speak...like listening to a kid read the Dictionary.

Thu, 10/02/2014 - 09:12 | 5279493 AdvancingTime
AdvancingTime's picture

 ECB President Mario Draghi's last move towards more QE is no more than stupidity on steroids, even words like misdirected and boneheaded do it a disservice. This is more proof that the Euro-zone is in big trouble, both the union and the flawed currency is again begging to crumble.

One is forced to wonder if Japan and the Yen will crash first considering how each day Japan slides closer to the economic abyss or whether the Euro will lead the way into the wastebasket. Draghi has helped the countries of Europe kick the can down the road but this only delays the failure on the Euro. More on how the Euro-zone has failed to make any real reforms in the article below.

http://brucewilds.blogspot.com/2014/09/euro-zone-and-draghi-both-mired-i...

Thu, 10/02/2014 - 09:14 | 5279499 B2u
B2u's picture

Anyone have a need to punch Draghi's ugly smirk?  I guess being a perpetual liar makes Draghi look that way.

Thu, 10/02/2014 - 09:19 | 5279517 gatorengineer
gatorengineer's picture

Germany 1, Giant Squid 0......

Thu, 10/02/2014 - 09:40 | 5279625 Duude
Duude's picture

Draghi works as a moderator between the southern European countries' desire for bailout and German taxpayers' willingness to keep bailing.  With that in mind, he's playing what he sees as his only card----talk, talk, talk. That ain't all bad, but the markets are now starting to read it as the boy that cried QE.

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