By my watch he’s up to the rostrum about 3 hours early ( Add: some calendars, inc the one we use, had it scheduled for 13.00 UK time. Apols for any confusion)
- falling longterm interest rates can boost inflation
- unconventional measures could have side effects
- rising euro reflects return of confidence in Eurozone
- continued rise in euro could affect policy stance
- euro exchange rate increasingly important for policy
- convinced that publishing ECB minutes would be useful. “logical next step”
- ECB may reflect on frequency of governing council meetings
Euro lower on the headline but nothing new in the comments essentially.Just scaring away a few buyers for the moment
EURUSD 1.3815 from 1.3835 EURGBP 0.8230 from 0.8238 EURJPY 141.50 from 141.65
- ECB can not make policy in favour of subsets of Eurozone countries
- governing council unanimously committed to using unconventional tools to deal effectively with risks of prolonged low inflation
- undue tightening of policy stance could be addressed with lowering of rate corridor including negative depo rate
Still nothing new.. EURUSD back to 1.3825
A summary of the speech in Amsterdam entitled “Monetary policy communication in turbulent times” can be found on the ECB website here
