Salient to Investors:

  • Sabine Lautenschlaeger at ECB said radical programs such as QE should only be considered in real emergency situations, like imminent deflation, because the side effects are especially significant, but said that those risks are neither visible nor expected.
  • Benoit Coeure at ECB said rates will remain very close to zero for a very long period, regardless of the developments in the rest of the world, and said that bubbles would be dealt with not by raising rates but with other instruments.

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