Trader, analyst and instructor with a 6-year experience

ECB Draghi's press conference

Monetary policy

  • ECB has accelerated preparations for ABS purchases (QE)
  • ECB unanimous in its commitment to use unconventional measures
  • interest rates will remain at present levels for an extended period
  • TLTRO take up of between 450-850 bln euros
  • ECB is working on the preparations for ABS purchases in the expectations that the ECB will go ahead with them. 


  • downside risks to economic outlook persist
  • recovery remains weak, fragile and uneven
  • EUR statistics remains contradictive: there are both strong and weak data
  • geopolitical risks have certainly risen in the past few months 
  • it's now hard to evaluate economic influence of sanctions
  • there is a potential risk of higher energy prices


  • inflation expectations remain firmly anchored
  • forecast has not been lowered
  • cut of inflation forecasts or diminished credit growth are needed to launch QE
  • short-term inflation will remain low
  • inflation will gradually increase in 2015-2016

Scroll to top