Market forced to wait on ABS purchases as Draghi signals action in June

By Tom Porter
08 May 2014

European Central Bank president Mario Draghi on Thursday signalled monetary policy easing will arrive next month with a rate cut likely, but his hint at “unconventional” action suggested ABS purchases are still very much on the table.

“There is consensus about being dissatisfied with the projected path of inflation,” said Draghi at his post-monetary policy meeting press conference, after the ECB’s governing council left its benchmark interest rate on hold at 0.25% for the sixth consecutive month.

The central bank was comfortable with acting at ...

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