(Harvest) President Mario Draghi took a bold stance at the European Central Bank (ECB) press conference last Thursday. Not only did Draghi announce the timeframe for ending the asset purchase program in 2018, but he also provided forward guidance on the unlikelihood of an interest rate hike until the summer of next year, subject to incoming data. Considering the meeting came just weeks after the Italian political turmoil, it is likely that Draghi was trying to project the most politically unbiased stance of the ECB to the markets.
Bold Is Beautiful: ECB and Investment Takeaways
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