ECB Feels Great About Doing Nothing

Flu isn’t the only thing going around. An epidemic of economic optimism has seized the European Central Bank, and its president thinks that should be enough to get the continent’s economy going once again.

“There is a positive contagion when things go well,” Mr. Draghi said. “That’s what is in play now.”

Then he said something about a “jury” still being “out,” but I for one was too europhoric and busy stimulating the economy to hear it. Which is good, because Draghi & Co. won’t be doing any stimulation themselves.

A united European Central Bank sent a strong signal that it is unlikely to cut interest rates despite economic contraction and record unemployment, suggesting the euro-zone economy must find its own footing without additional help from the central bank.

European Central Bank Leaves Key Rate Unchanged [NYT]
ECB Damps Talk of New Stimulus [WSJ]

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5 Responses to “ECB Feels Great About Doing Nothing”

  1. Guest says:

    Why'd you post a picture of Matt for?

  2. sohbet says:

    telling these little stories, here's a good idea: Have a point. It makes it so much more interesting for the listener.

  3. sohbet says:

    officers to investigate Blackstone's fishy financial transactions, but they wound up giving them

  4. link says:

    “Those who contemplate the beauty of the earth find reserves of strength that will endure as long as life lasts. There is something infinitely healing in the repeated refrains of nature — the assurance that dawn comes after night, and spring after winter.”