The ECB is again stalling. Draghi: Unexpected end of QE is unlikely – the Banker

Mario Draghi told investors and ekonomistom wait till December for details regarding further actions of the ECB. The President’s words the Central Bank of the Euro area a little zatrzęsły the currency market and European a number of stock exchanges.

for the second time in a row the European Central Bank has not fulfilled one hundred percent of the investors ‘ expectations and commentators and did not provide information about changes in the program quantitative easing (QE). Innovative information did not bring any message after just spend the day of the Board of Directors, and a conference with participation of the President Mario Draghi.

the market will start now big countdown until 8 December because it was during this year’s last conference press conference Mario Draghi has to present the direction of changes.

- Our (decision will determine our monetary policy in the next few months, he said, Draghi. The ECB President added that in December complete work on a report on the possibility of changing the asset purchase program (QE). Indent key decisions for December, motivated by the fact waiting on the latest macroeconomic forecasts, which range will be up to 2019 .

In a series of questions from journalists of Italy, as well as six weeks ago clearly stated that the Council the Governors were not talking about extending QE. Multiple suggestions he later noted that it is not mentioned on the reduction of the scope of the programme and that can’t imagine the sudden completion of the program. At the present time is still existing assumptions, QE in the Euro zone expires in March 2017.

In my opinion, no one thinks about the sudden stop in QE. Nobody thinks, for various reasons, he said.

the tradition of a press conference with Mario Draghi – it is the appeal of Italian faster and deeper implementation of structural reforms, how member States and EU institutions. As usual, economist, promised that the ECB will use all remaining in it disposal to bring inflation to the districts in order to (“below, but about 2%”).

the effect on the financial markets have Central banks, you can see clearly while maintaining the basic tools in today’s conference. When Mario Draghi noted that the Governing Council wasn’t told about expansion of QE, the Euro significantly strengthened against the dollar. When acknowledged that he sees the possibility of a sudden termination of the program, a common currency again weakened. Similar looked the situation on European exchanges.

this year’s Last meeting of the Board of Directors will be held on 8 December. calendar the Federal reserve system, which now passes all the attention of investors, while two more meetings of the Federal Open market Committee: 2 November and 14 December.

Michael Żuławiński