About Mario Draghi, Friday, Nov. 21 that reported possible additional measures to support the economy of the euro zone, have leaded the European currency. Following these statements, during the day, the euro has indeed flirted with its lowest level in two years recently reached (1.2358 dollar Nov. 7). 23h00 French time, it was worth 1.2390 dollars, against 1.2540 dollars on Thursday at the same time
& gt; & gt; READ. “The ECB will use all means at its disposal” to support inflation (Draghi)
“We are ready to recalibrate the scale, pace and composition of our purchases [of assets] if necessary to fulfill our mandate” This “without undue delay” , declared Friday the president of the European Central Bank (ECB) at a banking conference in Frankfurt, adding that it was “essential to approximate the inflation [euro zone] of his “objective .
And it is precisely this prospect of the ECB to buy back assets such as government bonds of countries the euro area in difficulty, have weighed on the euro. These assets are in fact considered risky and these purchases would be equivalent to injections of liquidity into the financial system, which would have the effect of diluting the value of the currency
& gt; & gt; READ. Why redemption of government bonds by the ECB are riskier than effective
For its part, however, the dollar remained supported by the publication Thursday of encouraging economic data in the United States.
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