Stocks, Yields Tumble After Draghi Admits “Growth May Have Peaked”; ECB To Delay QE Unwind

Friday, April 20, 2018
By Paul Martin

by Tyler Durden
ZeroHedge.com
Fri, 04/20/2018

As we have showed repeatedly over the past month, the European economic imploding, and nowhere is this more obvious than the Citi Eurozone Economic Surprise Index why will soon hit its post financial crisis lows.

It appears that after weeks of dithering, someone at the ECB also figured out how to pull up this chart on their Bloomberg because moments ago, and one month after the ECB first admitted that things are not ok when the central bank cut its 2019 inflation forecast, arguably due to protectionism concerns…

… Mario Draghi finally admitted what we all know:

ECB’S DRAGHI EURO-AREA GROWTH CYCLE MAY HAVE PEAKED

To be sure, Draghi also brought up the usual spate of platitudes he mentions every time, including that: “Notwithstanding the latest economic indicators, which suggest that the growth cycle may have peaked, the growth momentum is expected to continue”, that protectionism “may have already had some negative impact on global sentiment indicators” and that “while our confidence in the inflation outlook has increased, remaining uncertainties still warrant patience, persistence and prudence with regard to monetary policy.”

His conclusion was the punchline: “An ample degree of monetary stimulus remains necessary.”

The Rest…HERE

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