This week may see another hint at a

This week may see another hint at a stimulus from the European Central Bank.

After the Federal Reserve chair kept its interest rates unchanged last week amid concerns that world economy will soften, her peer from the European Central Bank may provide clues on the need for further stimulus for the euro area.

Draghi and other Governing Council members will make public appearances this week, and fresh data will demonstrate whether the currency bloc is succumbing to or shrugging off the gloom.

Low inflation is persecuting both the U.S. and the euro area.

Economists see it as increasingly likely that the ECB will have to boost its 1.1 trillion-euro bond-buying program if needed, either because of the stronger euro, which was boosted after Yellen stood pat, or due to the pressure emerging markets face.

Worries over a structural shift which beset the global economy have now eclipsed the central banks' optimism that a home rebound together with a stronger external demand would put inflation back on track to the goal of just under 2 percent.

Executive Board member Peter Praet, the ECB’s chief economist, said in an interview published over the weekend that policy makers “won’t hesitate to act” if it they reach that conclusion.

Earlier, Benoit Coeure, the ECB’s markets chief, said in a Friday speech in Paris that prospects for growth in the euro area have “clearly weakened,” and aren’t helped by a euro that’s now strengthening against the currencies of its main trading partners.

Both Praet and Coeure give public speeches on Monday, followed by Draghi’s appearance at a European Parliament hearing in Brussels on Wednesday.

Hours before Draghi speaks, purchasing managers’ surveys for September may tell investors if Europe’s manufacturing and services industries are indeed succumbing to lower external demand, or whether domestic consumers are helping to prop them up, says Bloomberg.

Meanwhile, there are signs the euro area economy can cope well the the global turmoil: consumer confidence is near the highest since the financial crisis and bank lending to firms and households is finally rising again. Latest figures for those measures will also be released this week.

Fed and ECB QE


Luis Maria Linde, Spanish central bank's head and governing Council member, said on Monday that the Fed delay shouldn’t mean the ECB needs to alter its own stimulus program.

It is a powerful program and it’s going well, he told reporters in Madrid. “What the ECB has said is that it could consider new measures based on the evolution of the economy, but that’s not based on the decision or lack of decision from the Fed.”

Greg Fuzesi, an economist at JPMorgan Chase & Co in London said that since QE is just six months old, the central bank will probably concentrate upon rhetorical support at first. The easiest option is to repeat that the initial end-date of September next year may be shifted.

Hasil (Inggris) 3:

本周可能会看到欧洲中央银行的刺激政策的另一个暗示：在担心全球经济将软化，欧洲央行可能会提供线索，进一步刺激欧元区，联邦储备委员会主席维持利率不变。

德拉基和其他理事会的成员会公开露面，这周，最新数据表明，欧元区是否是屈从于或摆脱黑暗。

低通胀是逼迫美国和欧元区。经济学家认为，如果需要，欧洲央行将不得不提高其1100000000000欧元债券购买计划，这是因为欧元走强，这是耶伦在帕特之后的推动，或由于新兴市场面临的压力。

担忧的结构性转变，困扰着全球经济现在已经超过央行的乐观，一个家的反弹和强劲的外部需求将使通胀回到正轨的低于百分之2的目标。

执行董事彼得Praet，欧洲央行首席经济学家，在上周末公布，政策制定者会毫不犹豫的行动，“如果他们得出这种结论接受采访时说。

早些时候，班诺特Coeure，欧洲央行的市场首席，在一个星期五在巴黎发表讲话时表示，在欧元区经济增长前景已经明显减弱，”并不是由欧元现在对其主要贸易伙伴的货币

加强帮助。两Praet和Coeure星期一做公开演讲，随后德拉基的外观在上星期三在布鲁塞尔的欧洲议会听证会。

小时前德拉吉说，采购经理人指数九月可能告诉投资者，如果欧洲的制造业和服务业确实是屈从于外部需求下，还是国内消费者帮助支持他们，同时，也有迹象显示，欧元区经济能够很好地应对全球金融危机：金融危机和银行贷款给企业和家庭带来的消费者信心也在不断上升。这些措施的最新数据也将在本周公布。

美联储和欧洲央行量化宽松


路易斯玛丽亚林德，西班牙中央银行的头和理事会成员，星期一表示，美联储的拖延并不意味着欧洲央行需要改变自己的刺激计划。“欧洲央行表示，它可以考虑新的措施的基础上的经济发展，但这不是基于决策或从美联储决策缺乏。”

格雷戈fuzesi，