And just like that, hope was dashed…
- *DRAGHI SAYS ECB DIDN'T DISCUSS EXTENSION OF ASSET-PURCHASE PLAN
- *DRAGHI SAYS NO ADDITIONAL STIMULUS NEEDED FOR TIME BEING
EURUSD is surging back above 1.13, and EU stocks are slumping.
“We discussed the growth projections. We did not discuss anything else,” European Central Bank President Mario Draghi says at a press conference in Frankfurt on Thursday.
“We tasked the relevant committees to work on the smooth implementation and the changes needed for the smooth implementation of our program”
- QE program is effective
- Lack of upward inflation pressure is a concern
- No additional stimulus needed for the time being, Draghi says
And then went so far as to admit the following…
- DRAGHI NOTES MAJOR MARKET DISLOCATIONS THAT ALTER BOND PRICES
EURUSD shorts unhappy…
DAX Shorts happy…
And Bund yields are spiking…
We are going to need another press conference tomorrow to talk this back.
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