ECB's Lautenschlager: Monetary policy is working, we are approaching our goal

From the ECB's Sabine Lautenschlager in Strasbourg, France

• What we are seeing is that financial markets conditions are improving
• Monetary policy is working, we are approaching our goals, albeit by following new paths
• Policies can't continue forever. At some point, for example, interest rates will hit their lower limit
• My view of new measures is that we need a little patience
• What matters now is to give the measures time
• I see no reason at the moment to change the key design elements of the QE program
• I'm sceptical about further interest rate cuts

Laugenschlager is a hawk so none of these comments are a surprise. But she sounds comfortable and maybe that's a sign that others are in the same boat. In any case, Draghi was fairly clear that nothing is coming until at least Dec/Jan.