The European Central Bank Chief Economist Peter Praet is on the wires now, via Reuters, expressing his tale on President Draghi’s comments delivered a day before.
Key Headlines:
Draghi’s comments overnight weren’t anything new.
Sees only pockets of asset price overvaluations in Euro area.
Pick up of growth, prices need further accommodation.
Wage increases are still moderate but are picking up.
Will take months before higher wages impact inflation.
Yield curve we’ve been seeing since June fits with ECB’s current scenario.
Data so far confirms base case scenario for ending QE this year.
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