ECB's Knot says there is no need to resume QE program
Knot says market expectations for Sept meeting are overdone
- Sees no 'value added' in ECB launching package of measures
- Would be relucatant to back peitring of deposit rates
- Market expectations for Sept 'overdone'
- Sees 'minor' revisions to September forecasts
- ECB should keep powder dry in case of new shock
Hawkish stuff. Euro jumps.
If you wanted to spin this you could argue that he may be trying to downplay expectations so the ECB can 'surprise' on September 12.