EU – ECB President Draghi Speaks
While speaking at the European Parliament’s Committee on Economic and Monetary Affairs, the ECB president made the following statements:
“TheEuro-Zone economy continues to expand at a moderate but steady pace, despite the adverse effects of global economic and political uncertainty. This gradual upward trend is expected to continue, not least owing to our monetary policy measures,”
Draghi made no mention of the ECB’s plans to extend its asset-purchase program in 2017.
As for the ECB’s stance on Brexit:
“If, in the long run, the risk of a less open UK economy in terms of trade, migration and foreign direct investment were to materialize, there would be a negative impact on innovation and competition and, thus, productivity and potential output,”
EU – M3 Money Supply y/y
The eurozone M3 money supply continues is on its third consecutive month of decline in growth with a reading of 4.4% in October, compared to a revised 5.1% in September, as well as in August.
EU – Private Loans y/y
Private loans in the eurozone remain on a steady 1.8% in October, the same growth rate in August and September.
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