ECB Press Conference Soundbites

June 8, 2017 Share Print 0

Mario Draghi signals the central bank is not ready to taper stimulus yet. While he sees some positive signs of growth, inflation pressure remains subdued and the bank lowers 2018 and 2019 inflation forecasts.

The comments should not cause big moves in markets (€1.1228) because his tone basically matches media reports yesterday.

The US 10-year yield is +2.195% vs 2.18% yesterday.

Didn’t Discuss Exit Strategy

Recovery Happening with Strong Creation of New Jobs

Evidence That Many New Jobs Are Low-Quality Jobs

Structural Reforms Tend to Produce Lower Wage Growth

Draghi: We Need to Be Patient

Labor Market Slack Is Tightening, Output Gap Closing

ECB cuts inflation forecasts, 2018 more than expected to 1.3%, nudges up GDP

Deflation Risk Are Not There Any More

Uncertainty About Inflation Path Decreased

The ECB Will Be In the Market For a Long Time

No Discussion of Policy Normalization

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Dean Popplewell

Vice-President of Market Analysis at MarketPulse

Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.