The ECB managed to have a meeting without discussing anything

Here are the things Draghi said they didn't discuss

  • Extending QE
  • Tapering QE
  • The intended QE horizon
  • Whether to end QE abruptly

What is coming next on those fronts is absolutely critical to what comes next for the euro. He punted everything to December.

At most, he said there was a 'technical presentation' on options for tweaking QE 'in case' there is a shortage of bonds to buy.