ECB’s Mario Draghi this morning commenting that inflation is way down the line; he said there is no end to what the ECB will do to improve the outlook. Blowing in the wind; as we have noted recently central banks regardless of what they will or could do are becoming more impotent every day in the context of driving economic growth. Draghi said the bank needs to review its policy stance at its next meeting. The ECB left its key interest rates unchanged, but Draghi hinted the bank will review its stimulus at the March ECB meeting. The inflation rate in Europe was expected to pick up from the 0.2% recorded in December and average 1% this year, rising further in 2017. But Mr. Draghi said it is now possible that prices will start to fall again over coming months.
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