ECB Watch: ”Wait-and-see stance on both monetary policy and non-standard measures”

Summary

Policy rate unchanged; no further steps on non-standard measures. Mr. Draghi encourages a large demand for the 3Y LTRO as there is no stigma associated with using these facilities. It seems that the ECB could participate in the Greek PSI provided that it sells its holdings to the EFSF without a loss.

Geographies

Topics