ECB chief economist Peter Praet up to the rostrum

Praet prattling on about reforms again.

  • if further shocks were to materialise our measures could be recalibrated
  • if inflation has remained weak it is not because ECB policy has been ineffective

Full speech here

Meanwhile EURUSD on the march higher still at 1.1445 with EURGBP still climbing at 0.8108 and sending cable back to 1.4114 after 1.4157 highs.

Rinse and repeat still!