Jackson Hole: Lloyds explains what we watch for in Draghi's statement tonight, but does not expect a QE announcement

Draghi's speech at the Jackson Hole conference, scheduled for tonight at 21:00, is likely to be the most important event of the day. On this occasion, you will find the Lloyds bank's expectations below regarding this event:

"There has been speculation that Draghi could use his intervention in Jackson Hole to provide guidance on how the monetary policy of the ECB will evolve over the coming months. However, this seems unlikely. Draghi has already stressed that the ECB's policy, including QE, will be re-evaluated in the autumn.

For today, it is therefore likely that Draghi will repeat the message issued during the July ECB meeting, which highlighted the improvement of economic conditions, while pointing out that inflation remains far from targets, and that any withdrawal of monetary support should be approached with caution.

Lastly, traders will also monitor any comments on the euro, as the minutes of the last ECB meeting revealed the ECB's concern on this subject."