News Headline Summary

ECB's Draghi says single supervisory mechanism (SSM) to help restore confidence in Eurozone banking sector

Says:
- SSM will help to revive interbank lending, cross border credit flows and will have tangible effects for real economy.
- Medium term outlook for economic activity remains challenging.
- Some recent survey indicators stabilised at low levels.
- Q4 indicators signal further weakness.
- We expect very gradual recovery in H2 2013.
- Underlying pace of monetary expansion remains subdued.

Analysis details (15:53)

- The comments observed from Draghi are nothing out of the unknown, pretty much the same from the ECB president, hence no reaction in the markets on these comments.

17 Dec 2012 - 15:38 - Fixed Income Bank Speaker - Source: Newswires

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: