News just hitting my wires;
- ECB president says “a new rate cut was always a possibility”
- Inflation had fallen rather significantly but governing council says ECB has little ammunition left
- ECB gov council member say last infromation on economy isn’t that positive and isn’t leading to better prospects
- ECB would monitor very closely all data and stand ready to act to boost the recession hit eurozone
Rate cut talk has sent the euro nosediving through 1.3000 to a low of 1.2981
I’m not sure where these comments have come out and by who. The wires mention ECB president which is Draghi and then mention governing council members. They also have it as Mondays comments. The only thing I can guess at is that they may have picked up comments from Olli Rehn whom was speaking in New York yesterday, but I could be barking up the wrong tree. Will let you know as soon as I get news.
