Yo, Pete.

Pete…

Its Saturday morning here, maybe Friday night where you are … time to relax a bit.

Maybe an adult beverage (if its Friday night), maybe a nice meal. Some music, perhaps.

Not a time to be gobbing off about quantitative easing. K?

–

Praet is keeping Reuters hard at it, They report on comments from European Central Bank Executive Board member Peter Praet from Saturday’s edition of Germany daily newspaper Sueddeutsche Zeitung.

Praet said the ECB took pre-emptive action with its QE decision:

  • “If inflation in the euro zone were to rise to 4 percent, everyone would expect the ECB to do something about it. So the ECB also has to act when inflation falls to zero percent”
  • Said deflation was “a vicious circle that leads to economic collapse and a rise in unemployment. That’s what the Great Depression of the 1930s in the United States taught us”
  • “Foresight is better than hindsight”