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Main » 2015 » October » 16 » Draghi's words mean little to the markets - they are waiting for action
Draghi's words mean little to the markets - they are waiting for action

Draghi's words do not mean much for the European markets, which expect action.

Debt and money markets are preparing to reduce the deposit rate the European Central Bank, no matter what his political lawmakers say in public.



 Traders estimate the possible reduction in interest rates for overnight deposits, said the UBS Group and Barclays. ECB officials have said it is too early to expand stimulus measures, and President Mario Draghi said that more than a year ago, rates have reached their lowest point. Economists predict that the change in the program of bond purchases, or quantitative easing, will take place in the form of any adjustment to the more conventional monetary instruments.

Given that inflation in the euro zone once again negative, increased speculation that the ECB will be to deal with monetary policy, perhaps, given the euro. The recent appreciation of the national currency will add to the downside risks to growth and inflation forecasts, said the ECB council member Yves Mersch. The Central Bank will not hesitate to actions, if the inflation outlook will weaken in the medium term, Mersch said.

"The main purpose of reduction of deposit rates will weaken the euro", - said Nisha Patel, London-based analyst for fixed income at UBS. - "It is not a substitute for increasing the program QE, which is able to provide a stimulus to the economy."


According to the materials WelTrade

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