Q&A time at the ECB presser 25 January 2018
- Second reason is heightened market sensitiviity to perceived ECB changes in communications
- Third is use of language in discussing FX developments doesn’t reflect agreed terms of reference (Eh?)
- Some ECB members were surprised by the reaction to December’s account (on language)
- We didn’t discuss cutting the link between inflation and QE
- The only discussion was on the need to have a discussion, which we said will happen in the early part of this year
- There hasn’t been much of a change since Oct
- We cannot declare victory yet
- We see some signs of wage pressures
- We don’t target exchange rates
- Issue is whether FX moves have an impact on the path of inflation
- Too early to assess whether pass-trough has taken place
Green light! Green light! 1.2500
Buy stop triggered 1.2510, half off already 1.2525. Run the rest.
- We consider nominal wage growth as a very convincing sign of inflation moving to our target
Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
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