wrapper

ECB Villeroy says ECB is not short on ammunition

Monday, Apr 11 2016
There were no major data releases from Eurozone today. European Central Bank Governing Council member Francois Villeroy de Galhau repeated on Saturday that the ECB has additional policy tools at its disposal and is prepared to use them to achieve its inflation target. "The ECB is not short on ammunition," Villeroy de Galhau said in an interview with Italy's La Repubblica newspaper. "This is what we said before our meeting on March 10 and we showed that we still have numerous powerful instruments."
Villeroy de Galhau, who heads the Bank of France, said that "as long as we are not at our inflation target it is legitimate use all monetary policy instruments. We will carefully watch over the financing conditions of economic agents, and if necessary we could do even more." In the interview, Villeroy de Galhau also also reiterated his call for a Eurozone finance minister who could define an economic strategy for the single-currency bloc.
 
"Monetary policy cannot do everything," the Bank of France governor said. "The monetary pillar exists and is strong, the ECB has done its job." He added that "what is lacking terribly is the second pillar, a major coordination of economic policy. For this reason, I also propose the appointment of a European minister of finance."
 
Euro is currently being traded few points below 1.1420 level. Pair is likely to find support around 1.1350 handle and resistance above 1.1450 level. There will be no major data releases later today.
More in this category: « Carney's `Brexit' Headache Intensifies With Rate Outlook Schism Aussie broke above 0.76 handle at the beginning of the week »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.