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Draghi Changes the Game: Weekly May 11, 2014

Draghi Changes the Game: Weekly May 11, 2014

6 Years ago | May 11, 2014 00:00:00


ECB's Draghi Provides Forward Guidance

We saw a rare "game changer" by ECB President Mario draghi in his post-ECB policy decision press conference on Thursday. Some say his comments were off-handed, but I saw the stilted carefully-selected language of a pre-planned remark. Draghi said that a strong Euro in the context of low CPI and low economic growth is a cause for serious concern. In other words he was warning the markets that the ECB would like to see the EUR trade weaker. When a central banker cites "serious concern", do yourself a favor and pay attention.

Mr Draghi also provided the markets with some rare forward guidance, saying that the central bank is prepared to take action to boos

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