The European Central Bank’s tweets were giving us a headache so we de-jargoned them
Something about money, jobs, and 'reflationary pressures'... anyone? Anyone?
Every couple of months, the President of the European Central Bank (ECB), Mario Draghi, gives a little speech updating everyone on what the bank has been doing, and how it thinks the economy is doing, and how it thinks what they are doing is affecting what the economy is doing.
They posted the whole thing on Twitter in little 140-character digestible snippets – or they would have been digestible, if the language was in any way accessible.
Obviously, they're aiming these speeches at people who work in finance or economic policy, which means they use a lot of technical terms like 'reflationary pressures' and 'accommodative policy' to describe what they're up to and how they're feeling about the way things are going in Europe. But at the same time, the things they're talking about – like inflation, and jobs – are definitely everyone's business.
So we had a go at de-jargoning Mario Draghi's speech. We didn't always manage, but the TL;DR seems to be that they want the value of the euro to be stable, so they're trying to make it stable, but things they can't control – like the price of oil, or political instability – are affecting it too, so basically they're just trying to play it cool. We think.
De-jargoned: You can’t actually tell yet, but we’ve done a really good job