Both Draghi Yellen Speaks | Latest Forex News
BBH research team suggests that in terms of monetary policy, both Draghi Yellen speaks today, while the first is behind closed doors with a parliamentary committee Germany.
While it is likely to be made available Draghi prepared comments, this is a defensive place. Without a new vision of politics can be expected. Instead, Draghi can be counted on to provide a solid explanation for the flexible monetary policy, that has had the support of the vast majority of the ECB.
You can also reiterate that countries (like Germany) that have fiscal space should use it. You may also note that part of the interest rates ratio is low in defiance of the EC, in Germany is that the country, has excess savings relative to investment (ie large and sustained surpluses into account current). In addition, interest rates are low because monetary policy is asked to do more than they should. Governments, including Germany, have been slow to adopt structural reform.
Meanwhile, Yellen is also unlikely to be breaking the new ground in testimony before the House panel on Banking Supervision. This is not the forum in which monetary policy is in the focusing point. At least four regional presidents will be speaking throughout the day, although only two, Bullard and Evans speak at sessions of the market. They are talking in the banking community. Later, after the markets close, two dissident Mester and George speak.