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Trading news
30 May 2018
OECD’s Gurria: European Central Bank can't set policy based on daily swings in the market
The Organisation for Economic Co-operation and Development (OECD) Secretary-General Jose Angel Gurria was out on the wires last minutes, via Bloomberg TV, making some comments on the European Central Bank’s (ECB) monetary policy outlook.
Key Points:
ECB has been invaluable in providing stability.
Policymakers must wait to make a definitive response.
Italy has made progress on dealing with NPLs.
Global growth is close to 4% this year.
Sees limited monetary policy room, economies need reform.