ECB VP Vitor Constancio speaking from the panel show in Wshington 9 Oct
- flow of high frequency data has been consistent with the materialisation" of baseline scenario of ECB September macroeconomic projections,
- Euro-area economy's resilience "reflects to a large degree the amount of monetary expansion -- actual and expected -- that is embedded in financial prices"
- "The normalisation of inflation depends, in particular, on the continued closing of the negative output gap and more dynamic wage behaviour"
"We have become aware that market developments have raised potentially increasing implementation challenges for asset purchases in the future"
"We will have to decide closer to that date the final timeline of the programme and its conditions. We have not yet started any discussion about this issue"
Constancio accepting there are challenges to further QE but again repeats that no discussions have yet taken place. On Thursday he poured cold water over prevailing ECB tapering rumours. that had giventhe euro a lift.
Yesterday Adam posted these comments from ECB boss Draghi.
No smoke without fire they say and I've been highlighting for a while the lack of wriggle room the ECB increasingly find themselves with.
Anyhow, those comments from Washington all duly reported to you I really am heading out again now!
Enjoy the rest of your week-end.
Constancio and Draghi putting on a brave face but no one's really fooled
