The suddenly loquacious Greek central bank chief (two speeches in two days) says
- that prospects for employment and growth have worsened in recent months.
- With the real economy in a negative feedback loop (bad news begetting worse sentiment begetting worse data…) it will be difficult to exit
- Lower official rates will not automatically be passed along to business and households
- “Many” central banks using non-conventional measures to support demand (no mention of ECB’s intentions on that sensitive topic)
EUR/USD trades at 1.3280 after stalling near 1.3310. Theses downbeat comments won’t do much to lift animal spirits…