Into the Q&A
Was asked whether the ECB was just as ready to act to cut QE as it would be to increase it. The second question allowed him to swerve going in to more detail.
Too early to comment on Trump and currencies
ECB does not target FX rates
G20 consensus is strong on refraining from a competitive devaluation
It's too early to comment on the impact of Brexit
Inflation must be sustained and broad across the Eurozone
Removing dep rate cap greatly enlarged the bond buying universe
ECB is ready to revise QE strategy if needed
Discussion today was unanimous in reflecting on Dec measures
ECB council had a sense of satisfaction about Dec moves
So a meeting to congratulate each other.
He's listing off all the good data recently and saying that it's increasingly clear that the ECB's policy stance is successful. But, they'll ignore inflation in all that.
