ECB's Draghi: Global economy can benefit from alignment of policies

The European Central Bank (ECB) President Mario Draghi was out on the wires last minutes, making a prepared speech at the ECB Forum in Sintra.

Key Quotes:

We would all clearly benefit from enhanced understanding between CBs

We may not need formal coordination of policies but we can benefit from more alignment

Mon pol has inevitably created destabilizing spill-overs as well

Divergent mon pol can create uncertainty about future policy intentions

That can lead to higher FX volatility and risk premia