There are a number of speeches from ECB board members today in connectionwith the ECB’s Watchers conference. The ECB’s chief economist Peter Praet andboard members Mersch and Coeure are all scheduled to speak. In today’s FT,columnist Martin Wolf argues that the ECB is failing and that the low inflation of0.8% is highly dangerous – see FT. He notes that the eurozone is just one shock awayfrom deflation and the cushion is far too small. A similar view was posted by seniorIMF members recently – see IMF blog. Pressure is still high on the ECB to easepolicy – and may be even higher now after it stayed put last week. In this respect, itwill be very interesting to hear the ECB speeches at today’s Watchers conference.
The data calendar is light again today. Euro industrial production should show a gainin January of 0.7% m/m, reversing the previous month’s decline of a similar order.
In Scandi, Norges Bank publishes weekly flow data.
Read the full report: FX Daily
Danske Bank