- Risks could come from external shock
- Open to all kinds of tools for monetary policy
- Options include buying assets
- ECB would be extremely interested in ABS development
- Everything seems inline with baseline scenario
- Lending is developing slowly on low demand
- Must encourage banks to develop ABS market
- Stronger Euro creates down pressure on economy and inflation
- Downward pressure from FX rate not warranted
Christian Noyer speaking at a conference in Paris.
He’s mentioned QE and the euro has slid 10 pips to 1.3879. Draghi knocks it up and Noyer knocks it down.
