NEWS： Draghi's parting words to Lagarde, the next president: "never give up"
please contact sales@tanchin.hk for any inquiry
At his last press conference in his eight-year term, the man hailed as saving the euro from collapse said there was still room for further easing. He will hand over the presidency to Lagarde on October 31.
At present, the inflation rate in the euro area is weak, less than half of the target level of the European Central Bank, and the internal opposition of the central bank to his monetary stimulus package is unprecedented high. For Draghi, such a situation is hardly a satisfactory outcome. In 2012, he promised to save the euro "at all costs", smashing speculation in the most indebted countries in the eurozone.
Draghi declined to give Lagarde specific advice, but said his parting words were to push prices in the eurozone wholeheartedly.
"It's part of our motto: never give up!" says Draghi.
Under his leadership, the ECB gave up the foundations of its orthodox German monetary policy, lowered bank deposit rates to well below zero, and bought 2.6 trillion euros worth of assets, most of them government bonds.
Mr Draghi hailed the policy as a way to avoid deflation and help create 11 million jobs in the eurozone.
But more than a third of the members of the ECB's governing council opposed the decision to resume bond purchases at its September meeting, and policymakers in the Netherlands, France and Germany took an unusual approach and made their differences public.
And it's not just a few prominent hawkish commissioners who question the wisdom of restarting debt purchases.
According to a Reuters survey of analysts, about 95% of respondents pointed out that the latest stimulus package of the European Central Bank would not help significantly to push inflation up to the target of just under 2% of the ECB.
The ECB did not take any new policy action Thursday. At the September meeting, the central bank decided to restart the bond purchase plan, purchasing 20 billion euros of bonds every month, while reducing the deposit rate to minus 0.5%, and kept the possibility of further interest rate reduction.
Despite weak economic growth in the eurozone, Mr Draghi insisted that the benefits of easy monetary policy outweighed the risks and denied that public disagreements had clouded his parting words.
please contact sales@tanchin.hk for any inquiry
PREVIOUS:Bearing side cover packing Improvement
Bearings
products
- Bearing side cover packing Improvement
- Bearing anchor design on the inside of the outer edge of the bearing housing fou
- Single row cylindrical roller bearing structure with ordinary single row cylindr
- Stiffness of the support shaft supported by rolling stiffness depends on the sti
- TANCBEARING NSK Bearings 3210A size parameters
