Attended by the world’s top central bankers, the European Central Bank (ECB) met in August for its regular monthly meeting in Jackson Hole, Wyoming. I thought I would share some insights from Tanguy Le Saout, Pioneer’s Head of European Fixed Income.
Anticipation was running high that the ECB would announce further measures to help tackle Europe’s twin problems of low growth and falling inflation. In a surprising move, ECB President Mario Draghi, deviated from his prepared speech. These and other unscripted remarks appeared to signal a significant shift in ECB policy. It raised hopes for the imminent announcement of a Quantitative Easing (QE) program and caused a substantial fall in European bond yields and the euro currency. With expectations high, did the ECB deliver? Continue reading
Filed under: ECB, Europe, Fixed Income Market Insights, Giordano Lombardo, Inflation, Macroeconomics | Tagged: Central Banks, deposit rates, ECB, economy, Euro, Euro economy, Europe, Fixed Income, GDP, global growth, inflation, Mario Draghi, monetary policy, QE, sovereign QE | Comments Off