Draghi: No discussion of move on rates today

Author: Jamie Coleman | Category: News
  • Discussed general monetary policy stance, which is accommodation
  • Repeats inflation risks are broadly balanced
  • Spain has made very serious effort at policy reform in very short time; LTROs successful in avoiding credit crunch will need time to see money propagate to real economy
  • Have avoided major credit crunch
  • Significant progress on fiscal front
  • No contradiction between growth and fiscal compact

No sounding less likely to cut, saying LTRO needs time to work its way through the system…