Key Highlights From Draghi’s Press Conference

  • ECB SEES 2012 INFLATION AT 2.3% TO 2.5% VS PREV 2.1% TO 2.7%. - so… counterdisinflation
That’s the kicker: ECB sees inflation. Deus Ex Off - forget more easing at this point. Everything else is just filler.
  • ECB SEES 2013 GDP AT 0.0% TO 2.0% VS PREVIOUS 0.0% TO 2.2% - not good
  • DRAGHI SAYS INFLATION RATES LIKELY TO STAY ABOVE 2% IN 2012
  • DRAGHI SAYS MARKET TENSIONS, UNEMPLOYMENT TO WEIGH ON ECONOMY - ya think?
  • DRAGHI SAYS UNDERLYING PACE OF MONETARY EXPANSION SUBDUED
  • DRAGHI SAYS ECONOMIC GROWTH REMAINS WEAK
  • DRAGHI SAYS ECONOMIC OUTLOOK IS SUBJECT TO DOWNSIDE RISKS
  • ECB EXTENDS FULL ALLOTMENT REFINANCING TO AT LEAST JAN 15 2013
  • DRAGHI SAYS NON-STANDARD MEASURES ARE TEMPORARY IN NATURE
  • DRAGHI SAYS EURO-AREA ECONOMY WILL RECOVER GRADUALLY
Finally:
  • DRAGHI SAYS BANKS MUST STRENGTHEN BALANCE SHEETS FURTHER.
courtesy :- copy paste (good things must share it increase knowledges)

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