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Speeches from Praet, Nowotny, Coeure and Bullard

ECB chief economist, Praet:

  • ECB can use balance sheet capacity during crises

  • lower growth prospects are a very serious concern

  • health of the banking sector needs key attention

ECB board member Coeure:

  • central banks are ready to intervene if financial stability is threatened post-Brexit, for example by injecting euros or foreign ccy
  • euro currency must be protected, requires moving towards more integration in financial and budget matters

Bullard speaking on Bloomberg TV:

  • US is in a low growth regime, economy could do better
  • doesn’t expect Brexit to have influence on global deflation
  • sees liquidity premium on debt in US
  • US growth seen continuing at 2%

Nowotny (EBC):

  • Will give timely signal on whether QE will be extended

  • Too early for detailed view on Brexit re possible changes in ECB bond purchasing rules

  • We have taken certain safety precautions against panic reactions. This is mostly about providing liquidity from the ECB and from the Bank of England as well


Any person acting on this information does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it.

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