- Sep policy decisions taken to underpin inflation expectations
- Have now reached lower bound on interest rates
- New measures to have sizeable impact on balance sheet
- Ready to take further action if needed
- Investment to return only if other policies flank ours
- Need more ambitious structural reforms for investment
- Won;t see much growth if no serious structural reforms
- Should remember that stability pact has been anchor of confidenec
Draghi is speaking live to the Eurogroup. Link courtesy of Livesquawk here
Into Q&A
- ABS reform program to be launched with or without guarantees
- Can expand ABS into mezzanine tranches if there are guarantees from governments
