Matt Simpson, CFTe, MSTA
CityIndex
A snapshot view of a speech dfelivered today by ECB President Mario Draghi
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- The economic recovery in the euro area is losing momentum.
- Risks to economic expansion clearly to the downside
- Expect inflation to remain at low levels over coming month; Increase gradually during 2015-2016
- ABS purchase programme will soon start purchasing Non-financial private sector and Covered Bonds
- TLTRO saw 255 banks participate with 82.6 bn Euros
- Too early to assess impact of TLTRO on the broader economy
- Aim to get ECB balance sheet back to early 2012 level
- Ready to use additional unconventional instruments
- Prepared to alter size and/or composition of these tools if low inflation is prolonged
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