ECB won't be hampered by technical hurdles in QE
- Draghi was asked about the lower bound on the deposit rate
- No excluding the use of all other instruments
- Will review technical aspects of QE "in the Spring"
- Recovery is becoming broader
- Recovery driven mainly by consumption
- Gradually our QE is translating itself into improving economic conditions
- "The bonds are there to buy but it's too early to project what we will do"
- There is extensive consultation with other central banks
Draghi is putting on a brave face but his reputation as a master communicator took a big hit today.
