June 19, 2019

Draghi hints at ECB policy reversal in his Sintra spreech

Share on facebook
Share on twitter
Share on linkedin
Share on email

In Short

Following a very dovish June press conference, ECB President Draghi hinted at today’s Sintra speech at new easing measures. Draghi has made clear that additional stimulus measures – potentially including all instruments - would be necessary unless the outlook improves.
Draghi hints at ECB policy reversal in his Sintra spreech
Share on facebook
Share on twitter
Share on linkedin
Share on email

Highlights:

  • Following a very dovish June press conference, ECB President Draghi hinted at today’s Sintra speech at new easing measures.
  • Draghi has made clear that additional stimulus measures – potentially including all instruments – would be necessary unless the outlook improves.
  • Other ECB speakers have made rather clear this week that the recent collapse in inflation breakevens is seen as intolerable.
  • We now expect further ECB monetary policy action in September, if not earlier.
  • The size of the easing package is uncertain, and may depend on exogenous factors (trade tensions, Brexit, Italy). Given the risks associated to the de-anchoring of inflation expectations, a light-hearted approach is unlikely.
  • Below we discuss and rank the available easing tools.

Download the full publication below

DRAGHI HINTS AT ECB POLICY REVERSAL IN HIS SINTRA SPREECH

Also interesting

size 3
April 15, 2021
Market Commentary

COVID-19 UPDATE Facts & Figures

brainstorming-concepts
April 15, 2021
Press Releases

Generali Investments Partners: Sycomore AM funds now available through CheBanca!

virtual-money-concept,-gold-bitcoins-digital-cryptocurrency-use-blockchain-technology
00:02:48
April 9, 2021
Fund Manager Video

Aperture Investors | European Markets Update