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
