Draghi Q&A

  • Today's meeting was a work and assess
  • Mon pol should not be the only game in town
  • There was a very rich discussion about all mon pol instruments
  • There has been no specific choice of tool, we are open to a menu of instruments
  • Council has tasked committees to work on different tools
  • Recovery to continue at same pace as Q2
  • Resilience in economy is driven by consumption
  • Low oil price is still a driver of recovery
  • ECB looks at two factors for economy, domestically and internationally
  • Headline inflation will stay low for protracted period
  • Inflation expectations have declined for short term, med-long term is unchanged
  • ECB is ready to act if 2% target is in danger of being pushed back
  • Further deposit rate cut was discussed

That's EURUSD through 1.1200 to 1.1195