Comments from the ECB President in a Reuters event:

  • Expects US stimulus to boost eurozone growth by 0.3 percentage points
  • US spillover will boost inflation by 0.15 pp

It's laughable to think the effect of spillovers on inflation can be forecasted to the second decimal point in a bloc that hasn't been able to forecast anything for a decade.

  • Bank are 'pretty solid' now
  • We will see more bankruptcies ahead
  • We must support the economy well into the recovery
  • Measurement of inflation was a key concern in ECB Listens events