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The digital revolution which keeps a tab on inflation. Technological improvement now means capital goods are cheaper every year.
Mario Draghi did get round to announcing a much-anticipated new round of quantitative easing (QE) in the end, but never have nine minutes felt so long.
Anticipation was building this week for the ECB to start a quantitative easing program, while a Greek exit from the eurozone re-emerged.
U.S. stocks moved lower Thursday after European Central Bank President Mario Draghi hinted that the bank is ready to back a big monetary stimulus, but would be delaying any action until next year.
The classic “risk-off” move was in evidence with geopolitical tensions mounting and global growth concerns due to developments in Europe and China.
Today every central bank on the planet is printing money by the bucket loads in an attempt to stimulate their economies to escape velocity and a sustainable recovery.
As expected, last week was all about central banks, with the Fed and the European Central Bank (ECB) both holding policy meetings.
