ECB sees black economy of the euro zone, ready for anything – Reuters Italy

MILAN (Reuters) – Facing the new deterioration the outlook for growth and inflation for the euro area central bank in Frankfurt does not set any limits on the development of measures even more expansive.

This is the message with which Mario Draghi said the last – yet another – downward revision of estimates of quarterly GDP and cost of living developed by ECB staff.

The framework It is even more bleak than say the same new estimates, warns the president, since developments subsequent to August 12, the date upon which the latest staff projections, pose downside risks even on the information disseminated today.

Urged by the press on the day that celebrates its 68 years, Draghi arrives even clearly acknowledge the weakening of the Chinese economy, in chronological terms last spectrum for financial markets, recognizing the negative effects on confidence.

“There is no limit to prevent the ECB to step up the pace of the measures [expansive] monetary policy,” he said to journalists.

The small but significant measure passed today – increased from 25% to 33% the maximum limit for the subscription of individual assets as part of the purchases ‘q’ – is itself a sign of how much flexibility remains even at a European Central Bank more than ever determined to carry out the expansion program.

In the course of today’s meeting is saved already discussed how to strengthen the ‘q’, says the president, nor any banker has said believes that a similar measure is necessary in the immediate future.

Appropriate to Now a look at the figures of the new estimates on paper.

If the GDP of the euro area the staff has adjusted to 1.4% from 1.5% the expectation of this year, to 1.7% from 1.9% over the next 2% and 1.8% from the on 2017. More …