FXStreet (Bali) - European Central Bank vice president Constancio, speaking in HK, in a speech entitled 'Diverging monetary policies, global capital flows and financial stability', said diverging monetary policy between US and Eurozone could have greater global repercussions that in the past.
Key headlines
Sees 'potential spillovers' from zero lower bound exit
Sees euro area spillovers smaller than those of US
Sees risk of durable fragmentation of system
With huge us dollar debt being created around the world without liquidity backstops, we are still far from having a global lender of last resort adequate for our times
Sees monetary, financial system at 'a sort of crossroads'
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