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Friday, March 29, 2024

ECB’s Mario Draghi Explains Why “Low-Flation” Means QE Is Coming Soon (He Promises, Maybe) – Live Press Conference

Courtesy of ZeroHedge. View original post here.

Submitted by Tyler Durden.

The looming threat of a non-inflationary scenario for a group of nations that now have more debt-to-GDP leverage than ever before, more unemployed people that ever before, and more delinquent loans than ever before is indeed a worry for the ex-Goldman Sachs banker, but – so far – Draghi has been “all mouth and no trousers” in the local vernacular. Will he re-promise QE? Negative rates? OMT? Jawbone the EUR down as yet another set of algos buying his bullshit? We’ll see…

Conference highlights:

  • DRAGHI SAYS MODERATE RECOVERY PROCEEDING AS EXPECTED
  • DRAGHI SPEAKS IN BRUSSELS AT MONTHLY PRESS CONFERENCE
  • DRAGHI SEES PROLONGED PERIOD OF LOW INFLATION
  • DRAGHI SAYS INFLATION TO RISE GRADUALLY THEREAFTER
  • DRAGHI SAYS UNDERLYING PRICE PRESSURES SUBDUED
  • DRAGHI SAYS SUDUED INFLATION OUTLOOK EXTENDING INTO MEDIUM TERM
  • DRAGHI CITES LOW INFLATION, HIGH DEGREE OF UNUTILIZED CAPACITY
  • DRAGHI SAYS UNUTILIZED CAPACITY IS SIZEABLE

But the punchlines:

  • DRAGHI: ECB READY TO ACT SWIFTLY WITH FURTHER EASING IF NEEDED

By act, he of course means talk.

  • DRAGHI SAYS ECB READY TO CONSIDER UNCONVENTIONAL INSTRUMENTS

Like… talking even more. It’s odd how “whatever it takes” to talk the Euro down no longer seems to work…

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