Reuters quote unnamed sources on the plays within the European Central Bank Council meeting on Thursday:
- ECB's Governing Council viewed the economic outlook as improved, updated inflation forecasts were not as bad as feared
- Pending Federal Reserve rate hike also factored into the decision, though to a lesser extent
- Concerned that a big ECB move would weaken the euro further
- One source with direct knowledge of the situation interpreted Draghi's public stance ahead of the meeting as trying to pressure the Governing Council to take bigger action.
"Draghi raised expectations too high, on purpose, and attempted to paint the Governing Council into a corner," the source said. "This was problematic and he was criticized for this by several governors in private."
