ECB's Nowotny and Knot speak in Vienna
Knotters is up first
Mon pol needs greater flexibility and that is already in our mandate
Medium-term does not mean the end of the projection horizon
Medium-term is a flexible concept depending on the depth of a shock
Shock was deeper than any in the last 80 years and was amplified by fragmentation
There's a clear limit to how much mon pol can stimulate credit if regulated tighter
In communication there's a disconnect between policy makers and markets (whose fault is that then?)
Accommodation will be with us until the end of 2020 thanks to the reinvesting of assets bought
It's dangerous for banks to become captive of market expectations about what's next
I think Reuters has a newbie on the typing desk as they been calling him Knoot :-D
I'll have to check but I'm not sure anyone has put a firm date on the whole QE cycle, and he's potentially done just that. That puts it just over 3 years from the current expected March 2017 QE end date.