• Not much room for maneuver on ECB rates, he said in a WSJ interview
  • Officials “must be careful” with negative rates
  • ECB doesn’t need new toolds, for now
  • Interest rates not the main issue

The market fell to 1.2880 on the idea of negative deposit rates late last week. Praet sounds very reluctant to go down that road. Better to wait for a full-blown crisis

;)