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ECB: Few Surprises In de Guindos Speech On Expectations Surveys

ECB
BundesbankCentral Bank NewsFixed Income BulletsCEEMEAEurozoneGermanyBulletGlobalEuropean Central BankForeign Exchange BulletsRegionMarkets

Not too many surprises to note in de Guindos’ opening remarks on a first glance, though the following excerpts are somewhat interesting (particularly in the context of the market reaction to last week’s flash PMIs):

  • “Survey data can be volatile and there is evidence of overreaction in both household and firm surveys of expectations”.
  • “For this reason, surveys may provide a noisy signal for policymaking in practice, which complicates how these data should feed into the policy reaction function”.
  • Link here. The subject of the conference is "Expectations surveys, central banks and the economy".
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Not too many surprises to note in de Guindos’ opening remarks on a first glance, though the following excerpts are somewhat interesting (particularly in the context of the market reaction to last week’s flash PMIs):

  • “Survey data can be volatile and there is evidence of overreaction in both household and firm surveys of expectations”.
  • “For this reason, surveys may provide a noisy signal for policymaking in practice, which complicates how these data should feed into the policy reaction function”.
  • Link here. The subject of the conference is "Expectations surveys, central banks and the economy".