October 24, 2019

Draghi says farewell and reiterates his call for more fiscal action

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In Short

At today’s meeting, the Governing Council unanimously decided to not change its policy stance while continuing to see risks on the downside and maintaining a dovish bias.
Draghi says farewell and reiterates his call for more fiscal action
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Highlights:

  • At today’s meeting, the Governing Council unanimously decided to not change its policy stance while continuing to see risks on the downside and maintaining a dovish bias.
  • Concerns about QE restrictions becoming binding in the new QE program were downplayed but no details about the composition were provided.
  • In his farewell press conference President Draghi reiterated his call for stronger fiscal action and talked down the rift within the Governing Council.
  • Looking ahead, we expect the ECB to stay on hold for the time being.

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DRAGHI SAYS FAREWELL AND REITERATES HIS
CALL FOR MORE FISCAL
ACTION

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