Further comments by ECB chief economist Peter Praet
- Slowdown driven by drop in international demand
- Growth is going to be bumpy
- ECB will go carefully with normalisation process
- Says that Brexit and Italy are some of the more difficult issues
- ECB's options are open if change in economy is substantial
- Economic conditions would have to deteriorate very substantially to envisage going to non-conventional measures
Yet again, Praet basically attributing the slowdown to being "internationally driven". That continues to send the message that the ECB is continuing to brush aside the slowdown as temporary until they can get away with ending QE later this year.
