(Il Sole 24 Ore Thomson Financial) – Frankfurt, June 3 – The ECB will maintain a steady course in its monetary policies, and then complete its full level of bond purchases worth a total of 1.14 trillion, if anything, “adding something “should it be necessary. All this, looking beyond ‘of any market upheavals and movements of inflation in either direction if considered temporary. Mario Draghi, ECB president, reiterated at the press conference held after the meeting of the Governing Council (now every six weeks), its determination to complete the mission to bring inflation back to the target official (below but close to 2% per annum) and revitalize the real economy with important decisions taken since last summer dall’Eurotower. The plan for the purchase of securities (government, covered bonds and ABS) “is progressing well” but “we have to get used to increased volatility ” in the market for government bonds, Draghi said, without entering into the large movement market from mid ‘April drove up yields on government of some countries, in particular the German Bund. The panorama is not very cyclical Eurozone changed compared to April but Draghi made no secret that he hoped in growth rates more ‘marked: according to the latest data available, the recovery, although’ modest, and ‘continued in the second quarter also if “there ‘was some marginal loss of momentum. The data are in line with our expectations but we expected them, in some cases, better.” E ‘went well’ mainly due to external factors, especially the slowdown in major emerging markets although “domestic demand remains strong in the area.” The team of economists from the ECB has kept unchanged its growth forecast for the euro area this year (1.5%) and others (1.9%) while it has slightly filed one for 2017 (2, 1% to 2%). On the inflation front the ‘Q,’ it seems already ‘give some results since the estimate for this year and’ was increased from zero to 0.3% (unchanged at 1.5% and 1.8% higher than for 2016 and 2017). Draghi declined to comment in any way the ongoing negotiations between international creditors (including the ECB) and the greek government after the emergency summit on Monday ‘evening which was also attended by Draghi: the ECB “wants Greece remains in the euro, but with a strong agreement “that that ‘combines impulses to growth, equity’ fiscal sustainability ‘public accounts and solving problems that still exist at the level of stability’ financial. For now, all the energies “have to go to achieve this kind of agreement,” said Draghi, according to which “everything else will ‘after and will’ also rather easily,” so that Greece “with the right set of policies “potra ‘back again among the economies that work.
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(RADIOCOR) 03/06/15 18:55:40 (0605) 5 NNNN
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