European Silver Is Loose Or A Foregone Conclusion.

Wiedemann, chairman of the European Central Bank, President of the board of governors, President of the Bank of Germany, President of the Bank of Germany, Williams, chairman of the San Francisco Federal Reserve Bank of America and Fisher of the Dallas Federal Reserve chairman delivered a speech on Monday. Although their speeches did not have much impact on the market, many policy signals were still worth pondering.

Novotny, a member of the European Central Bank's management committee, also said that although the euro exchange rate is not the policy objective of the European Central Bank, the euro is facing a low inflation problem in the eurozone. price It still has impact.

　　 Europe Wiedemann, member of the central bank's Management Committee and German central bank governor, said on Monday that the ECB policymakers will pay close attention to the euro exchange rate before adopting policy decisions. While emphasizing that the ECB does not have a target of exchange rate, Wiedemann also pointed out that the euro exchange rate may affect the price development in the euro area, and that the situation of low inflation may continue for some time.

The European Central Bank's executive director, Mr Merck, further strengthened his speech in the speech, which hinted at the future. Easing policy The prospect is expected to make the euro fall back from the day after struggling with the US dollar. Since then, the views expressed by many current Federal Reserve officials and former officials on monetary policy have become the main focus of the period.

On Monday, the ECB officials made clear that the euro area is facing a long-term low inflation problem. It is possible to adopt further easing policy in June. Before that, we will pay attention to the impact of the euro exchange rate on the price of the euro area. Bloomberg's latest monthly survey shows that 90% of the economists surveyed expect to ease monetary policy in June when ECB President Delaki said in May 8th that central bank officials were willing to take action in June.

Interest rate cuts may still be the first option for the European Central Bank to take action in June. Last week, there were reports that the European Central Bank was preparing to put forward a set of policy options at the June meeting, including the reduction of all interest rates of the central bank and targeted measures designed to stimulate loans to SMEs.

It is reported that the European central bank or Huaibei will launch a 200 billion euro economic stimulus package next month, including the implementation of negative interest rates, and encourage banks to lend to SMEs and increase market liquidity through the introduction of low interest loans. The ECB may also choose to buy asset backed securities, which is expected to inject about 60 billion euros into the economy. The European Central Bank may also suspend the practice of SMP debt cancellation, which is expected to release about 170 billion euros to the banking system.

In addition, there are reports that the ECB executive director, Pratt, will recommend the central bank to reduce the main refinancing rate from 0.25% to a record low of 0.15% at the June 5th policy meeting. He will also propose for the first time that the interest rate on bank deposits be reduced to a negative value, but the report does not specify the source of the information.