Goldman Sachs on yesterday's ECB sources piece and their outlook for the central bank

A Reuters news story cited unnamed ECB officials saying that ECB President Draghi would hold off on the policy discussion until the autumn and focus on the theme of the symposium (‘fostering a dynamic global economy’) at his upcoming speaking engagement at the Jackson Hole conference. This is in line with our expectation that the ECB will deliver its news on the outlook for its asset purchases at the September and October ECB meetings. We discuss the ECB communication and market responses in the focus piece. We expect the fluidity of central expectations in 2017, combined with the large impact of the Sintra speech, to lead President Draghi to aim for a cautious speech at the Jackson Hole conference in late August.

17 Aug 2017 - 10:32- Fixed IncomeBank Speaker- Source: Goldman Sachs

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