Yellen erring on the side of caution – ANZ

Research Team at ANZ, suggests that last night it was a continuation of the cautious variety.

Key Quotes

“Yellen looks is no hurry to normalise US rates noting “proceeding cautiously in raising the federal funds rate will allow us to keep the monetary support to economic growth in place while we assess whether growth is returning to a moderate pace, whether the labour market will strengthen further, and whether inflation will continue to make progress toward our 2 percent objective.”

Across the Atlantic, her counterpart Mario Draghi also noted there is “more stimulus” in the pipeline in the form of TLTLRO offerings and now is the time to focus on implementation of measures.”