Draghi: the Euro area expansion continues to be firm, but a very large measure of accommodation still needed

The comments of Draghi

  • The underlying rate of inflation has not yet shown convincing signs of an upward trend sustained
  • There are no indications of widespread asset-price misalignments, the evolution of the small credit

This is a funny comment to make on the same day that we learned that the world’s biggest hedge fund had a huge bet against the Italian banks.

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