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1.Market Observations, 8.Was Sticky

9 Sept 2016 (WSJ) – ECB Stands Pat on Stimulus as Draghi Defends Policy

(8 September 2016, Wall Street Journal online, By Tom Fairless)

‘European Central Bank president urges governments, especially Germany, to boost growth through spending’

‘FRANKFURT—The European Central Bank left its €1.7 trillion ($1.9 trillion) stimulus unchanged at a policy meeting Thursday, brushing off concerns over economic shock waves from Britain’s vote to leave the European Union and disappointing investors expecting the ECB to act again soon.’

‘The decision to stand pat, even as new forecasts showed the ECB missing its inflation target for years, underlines how central banks are approaching the limits of what they can achieve without support from other policy areas, notably governments. In China earlier this month, Group of 20 leaders warned that monetary policy alone can’t fix the world’s economic ills, and pledged to boost spending and adopt overhauls aimed at boosting growth.’

Read more at WSJ.com

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