[ELSHARKI]

Former Central Banker Says Market View Of Draghi Comments Totally Wrong

Former Cyprus central banker Orphanides (famous for having been a staffer at the Fed before taking the helm of the central bank) says that the ECB will not buy bonds for its own account and that the market is totally misreading Draghi’s comments.
I think he’s smoking something because Draghi has made no attempt to walk-back the comments that have been lingering out there for almost a week.
Draghi may or may not have gotten ahead of the consensus of the ECB governing council but he did so with a purpose. We’ll know in less than 24 hours whether he was successful.
Orphanides spoke with Bloomberg. (Link to follow)

[ELSHARKI]

Former Central Banker Says Market View Of Draghi Comments Totally Wrong

Former Cyprus central banker Orphanides (famous for having been a staffer at the Fed before taking the helm of the central bank) says that the ECB will not buy bonds for its own account and that the market is totally misreading Draghi’s comments.
I think he’s smoking something because Draghi has made no attempt to walk-back the comments that have been lingering out there for almost a week.
Draghi may or may not have gotten ahead of the consensus of the ECB governing council but he did so with a purpose. We’ll know in less than 24 hours whether he was successful.
Orphanides spoke with Bloomberg. (Link to follow)