- Russian tensions may have dampened economic activity
- ECB monitoring inflation closely
- Sees gradual increase in inflation later in the year
- ECB projections likely underestimate impact of June package
- Governing council was unanimous in commitment to act if needed
- There was unanimity in using non-standard measure if they fall within ECB mandate
- Measures may have a sizeable impact on balance sheet, but should help inflation move back towards 2% target
- Full details of ABS to be announced after 2nd October ECB meeting
- Cuts 2014 GDP to 0.9% from 1.0% prior, 2015 to 1.6% from 1.8%. Raises 2016 to 1.9% from 1.8%
Pretty much another rundown of Draghi’s statement
