ECB Minutes Showed Some Disagreement - Investec
Research Team at Investec, suggests that in Europe, some attention was
also paid to the release of the ECB minutes from their meeting four
“The release shows there was some disagreement around some of the finer details of the announced package, as some officials were apparently in favour of considering an even deeper rate cut last month. It was also revealed that incentives for banks that expand lending received 'very broad support' but that the expansion to including corporate bonds purchases received just 'broad support'.
Also from Europe yesterday, in the ECB's annual bank report, ECB President Draghi was quoted as saying that 'we face continued disinflationary forces' and 'that we face questions about the direction of Europe and its resilience to new shocks'. However the President confirmed that in light of this 'our commitment to our mandate will continue to be an anchor of confidence for the people of Europe' and in a separate speech later on in the day noted that the Bank will do 'whatever is needed' to lift inflation.”
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