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Draghi press conference, marks a big change in communications policy; main points so far: -...

Draghi press conference, marks a big change in communications policy; main points so far:
- Council had extensive discussion about interest rate cut.
- Council injects a downward bias into interest rates for the foreseeable future based on the three variables of inflation, the economy and monetary dynamics.
- "The decision was unanimous, that's also quite important."
- "Liquidity will remain ample."
- Our exit from highly accommodative monetary policy "is very distant."
- "50 bps is not the lower bound."
- "Key ECB interest rates include the rate on the deposit facility."
Comments (1)
  • grassyknollguy
    , contributor
    Comments (14) | Send Message
     
    Gee- What a suprise ! Keeping on doing what we're doing.The major currencies are in a room which only has two exits. Door one is the Keep on Monetizing door and eventually have hyperinflation & the destruction of wealth for most people and the other door is the "Jack up Interest Rates" door and have a major recession/depression.A third door could be created by having several significant regional wars-not entirely desirable-but creating employment and justifying stimulus.
    4 Jul 2013, 12:40 PM Reply Like
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