The ECB's Monetary Policy Can Be Adjusted At Any Time In The Future.

Overnight, US stocks rose, in addition to better than expected nonfarm products, Europe. Central Bank President Delagi's speech in New York also contributed. In this speech, he "pigeon sound" renewed, trying to reverse the previous day less than expected easing measures to the negative impact of the market.

Financial blogger zerohedge pointed out that there was nothing more exciting in the New York economic club's activities than a dialogue between Mervyn King, former governor of the Bank of England and Delagi.

King asked, "is your speech intended today to try to offset some of the market's reflection yesterday?"

Delagi's honest almost barbaric reply shocked all the central bank observers: "no... Okay, it is (" Not really... Well, of course ").

Speaking at the New York Economic Club on Friday, Delagi again released the dove: the ECB. monetary policy It can be adjusted at any time in the future to push the economy towards its goal. The ECB's monetary policy tools have not been specifically limited and the scale of the balance sheet is not limited.

The dove speech pushed us stocks up and the euro went down:

Zerohedge commented that all modern monetary policies are ultimately intended to offset " Market negative By contrast, even lowering the euro seems less important.

According to Wall Street, the European Central Bank announced that the deposit rate will be reduced by 10 basis points to -0.3% on Thursday. However, the expansion of QE has disappointed the market. It only extended the QE implementation period for six months, expanding the asset purchase target and not increasing the monthly purchase quota as expected by the market.

As a result, investors cut sharply the euro's empty positions, and the euro recorded the biggest increase since 2009. Meanwhile, the stock market in Europe and the United States has collapsed.