Comments from the ECB's second-in-command

  • ECB has 'shadowed a declining equilibrium' rate
  • Will continue to do so with a full implement of measures
  • Others must actively pursue structural policies

There's nothing here that would move the market but the euro is on a bit of a run as the US dollar comes under broad pressure.

More:

  • Sees limits to using negative rates for a long time
  • Personally thinks 2018 inflation can top forecast