What Can We Expect From Jackson Hole?

While Bundesbank President Jens Weidmann has called on the European Central Bank (ECB) to end its bond buying programme, ECB President Mario Draghi is unlikely to use language that could potentially excite markets in his Jackson Hole speech this Friday, having been scarred by his recent experience at another central banking conference in Portugal, say analysts.Bond yields and the euro surged following Draghi’s remark at the Portuguese resort of Sintra in late June that “all the signs now point to a strengthening and broadening recovery in the euro area.” The president’s ECB colleagues were subsequently compelled to spend several days qualifying and walking back his comments to calm nervous traders.President Draghi will, therefore, be mindful of saying as little as possible given that market reaction, Simon Derrick, chief currency strategist at BNY Mellon, told CNBC’s Squawk Box on Monday.

Source: ECB’s Draghi seen cautious at Jackson Hole after Sintra debacle

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