ECB Said to Be Unlikely to Include Greece in QE in Coming Months

by Alessandro Speciale
13 Ιουνίου 2017, 2:00 π.μ. EEST

Bloomberg

The European Central Bank is unlikely to include Greek bonds in its asset-purchase program for the foreseeable future, a person familiar with the matter said, as European creditors aren’t prepared to offer substantially easier repayment terms on bailout loans to improve the nation’s debt outlook.

Greece to ease capital controls soon, needs debt measures: Stournaras

Thu Nov 10, 2016 | 5:50am EST

Reuters

By George Georgiopoulos and Balazs Koranyi | ATHENS
Greece will soon ease capital controls further but full liberalization will depend on progress in easing the country's debt burden, which is also a precondition for entering the ECB's asset buying scheme, central bank chief Yannis Stournaras said.

Propped up by three successive bailouts, Greece hopes to emerge from a long recession next year. But much of its outlook depends on getting a long-sought reduction of its huge debt pile, easing capital restrictions and inclusion in the ECB's 1.74 trillion asset buying scheme.

Dollar flat after U.S. data, euro rises with bond yields

Wed Oct 5, 2016 | 3:30pm EDT

Reuters

By Richard Leong | NEW YORK
The dollar was little changed against a basket of currencies on Wednesday as encouraging data on the U.S. services sector offset a weaker-than-expected report on private-sector job growth, while the euro was broadly higher in step with a rise in higher euro zone bond yields.

U.S. services industries grew at their fastest pace in 11 months in September, reinforcing the view of a steady economic expansion which would allow the Federal Reserve to raise interest rates later this year, analysts said.

Wednesday's upbeat snapshot of the services sector from the Institute for Supply Management followed perceived hawkish remarks from regional Fed presidents Loretta Mester and Jeffrey Lacker earlier this week.

Fatigued Investors Want Draghi to Buy Greece Before They Do

 Nikos Chrysoloras

September 28, 2016 — 4:03 AM EEST Updated on September 28, 2016 — 10:05 AM EEST

Bloomberg

Michel Danechi isn’t buying the Greek turnaround story just yet.
As Greek business leaders and government officials presented to investors last week in London a list of reasons why valuations of the country’s assets make them attractive, Danechi’s Duet Asset Management took note. But what he wants to see is for Greece to show it can make good on pledges made to euro-area creditors so it can be included in the European Central Bank President Mario Draghi’s quantitative easing program.

What Draghi Said on QE, Market Volatility, Greece

 Deborah Hyde

September 4, 2015 — 11:19 AM EEST

Bloomberg

Mario Draghi addressed questions on recent market volatility and scope for further ECB action after the central bank downgraded growth and inflation forecasts and raised the limit of a country’s debt it can buy citing downside risks to the euro-area economy.

Here's the checklist of what Draghi said at yesterday's press conference:

Inflation

HICP rates will remain very low in the near term, may even turn negative toward end of year also due to base effects of oil; impact will be “transitory” due to oil.

Inflation likely to pick up during 2016 and 2017 although more slowly than anticipated thus far.

Downside risks to September projections remain.