Draghi upbeat
- Eurozone upswing is increasingly solid
- Some of the tail risks have receded measurably
- We remain firmly convinced that an extraordinary amount of mon pol support, including further guidance, is still necessary
- A more dynamic economy, over time, will favour a healthy return to higher interest rates
Draghi has moved the needle a tad further but it's in the same pattern and tone as before. He's said before that the economy was improving; now it's further improving.
It's part of a pattern of a better assessment of the economy that's believed to be a Summer communication strategy that will culminate with an announcement about a taper in September.
h/t @victorleonardib for the pic
