- Best contribution ECB can make is stable prices
- ECB’s primary goal is stable prices
- Financial stability is secondary ECB goal
- Signs of stabilization in debt markets
- Economic activity to recover gradually
- Inflation remains in check
- Inflation to drop below 2% next year
- Sees downside risks for economy (me too)
- 3 year loans alleviated deleveraging pressures
- Remains to be seen if loans flow through to economy
- Loans didn’t solve problems, only bought time
- Now up to governments to do their part
- ECB remains fully faithful to its’ mandate
- ECB will act when needed
- ECB non-standard measures temporary
- ECB raised rates last year when economy improved
Bloomberg reporting.
