ECB Press Conference Soundbites
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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