Nothing potentially market moving from the ECB President so far at his speech in Milan:
- Decisive rise in investment is essential to bring inflation closer to where we want it, to stimulate economy, to lower joblessness
- Only if structural, fiscal and monetary policies go hand in hand will the euro area see investment return
- May be useful to discuss overall fiscal stance of euro area with a view to raising public investment where there is fiscal space
- Full text of the speech
Update:
- Draghi says ECB ready to take further action
- Senior ABS has proven to be high quality
- Govts should consider consider guarantees for lending SMEs
Draghi’s comments about further action are repeats so there’s nothing really new here, just another central banker lamenting the business investment.
