ECB president Draghi making prepared speech at conference in Sintra 28 June

Nothing ground- breaking/price changing in the rest of it that I can see but I'll stick some headlines up.

  • we would all clearly benefit from enhanced understanding between CBs
  • we may not need formal coordination of policies but we can benefit from more alignment
  • mon pol has inevitably created destabilising spill-overs as well
  • divergent mon pol can create uncertainty about future policy intentions
  • that can lead to higher FX volatility and risk premia

Full speech here

The ECB Forum on Central Banking is an annual event organised by the ECB in Sintra in Portugal. It provides a opportunity for central bank governors, academics, specialised journalists and high-level financial market representatives to exchange views on current policy issues and to discuss a chosen topic from a longer-term perspective. The 2016 Forum will bring together approximately 150 people and focus on the future of the international monetary and financial architecture, a key topic of debate in the areas of both economics and policymaking.

This week's event has seen BOE's Carney and Fed's Yellen both pull out amidst conjecture that the post-Brexit heat was just too, er, hot.