Stock index contracts quickly move lower (DAX, S&P 30)
...as Draghi continues his speech. The text has been already published we browse it for other thoughts that have market moving power
- interest rates are close to their lower bound
- monetary policy is not to fight short term shocks, but to prevent undesirable longterm dynamics
- banks balance sheets not yet healed, still high nonperforming loans seen in some parts of Euro Area = disrupted monetary policy transmission
- Euro Area is lagging behind in innovative capacity
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