Hot air fear intensifies as ECB seeks ABS consultant

Tom Porter

August 07, 2014 09:30 PM

draghi cover — The president of the European Central Bank Mario Draghi listens to questions during a news conference in Frankfurt, Germany, Thursday, June 5, 2014. The European Central Bank has cut two key interest rates, one of them into negative territory a highly unusual step that underlines the urgency of its efforts to keep the eurozone economy from sliding into crippling deflation. It reduced its main interest rate, the refinancing rate, from a record low of 0.25 percent to 0.15 percent. More drastically, it also cut the rate it pays on money deposited by banks from zero to minus 0.1 percent, an unprecedented step for the ECB that aims to push banks to lend money rather than hoard it. (AP Photo/Michael Probst) | Michael Probst/AP/Press Association Images

More market participants are starting to question the European Central Bank’s ability to successfully revive the European asset-backed securities market after another Mario Draghi press conference went by without further detail on Thursday, except for the president saying a consultant would be hired to advise on its promised ABS purchase programme.

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Tom Porter