ECB's Draghi not set to deliver fresh policy message, report says

Analysts and traders hoping that European Central Bank governor Mario Draghi might signal a small shift in its policy stance next week may be asked to wait at least a little bit longer.

According to a sources based report from Reuters, Draghi was not set to deliver a fresh policy message at the US Federal Reserve bank of Kansas City's annual central banking symposium at Jackson Hole, on 24-26 August.

Instead, he would focus on the symposium's main theme of fostering a dynamic global economy, preferring to hold off on any debate regarding the above until Autumn.

On a related note, in an interview with Estonian daily Aripaev, Governing Council member Ardo Hansson said the ECB's exit from its asset buying programme was tied to the economic recovery so everything was calm.

Hansson also emphasised that the ECB's reinvestment of the proceeds from its now larger balance sheet would continue, together with low interest rates, would continue to offer support the Eurozone's economy for years.