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ECB Ready with Additional Measures Says Draghi

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The European Central Bank’s Governing Council stands ready to take unconventional measures if needed which could include buying government bonds, its president said on Thursday in a letter to a European Union lawmaker.

In the letter to Luke Ming Flanagan, Mario Draghi said that the Governing Council would closely monitor the “risks to the outlook for price developments over the medium term”.

“It will be particularly vigilant as regards the broader impact of recent oil price developments on medium-term inflation trends in the euro area,” he said.

 
“Should it become necessary to further address risks of too prolonged a period of low inflation, the Governing Council is unanimous in its commitment to using additional unconventional instruments within its mandate,” he said.

He added that this “may entail the purchase of a variety of assets one of which could be sovereign bonds”.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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