ECB president making a scheduled speech 23 Aug
- we must be ware of gaps that still remain in our knowledge
"Keynote" *speech by the President at opening ceremony of 6th Lindau Meeting on Economic Sciences in Lindau, Germany.
Full speech here
Stunning inspiration so far from the Dragster. Not.
*Keynote was ECB's phrase not mine fyi. Let's see if there's a Q&A.
More from the speech:
- while fwd guidance is a useful instrument recent research has highlighted that it's effectiveness can be improved with other non-standard mon policies
- when the world changes as it did ten years ago, policies, especially monetary policy, need to be adjusted. Such an adjustment, never easy, requires unprejudiced, honest assessment of the new realities with clear eyes, unencumbered by the defence of previously held paradigms that have lost any explanatory power
- policy actions undertaken in the last ten years in monetary policy and in regulation and supervision have made the world more resilient. But we should continue preparing for new challenges
EURUSD suitably unfazed by the lack of anything of note. Now waiting on German and EZ flash PMIs
Draghi weighing up the sciences to iron out a few wrinkles
