ECB executive board member Bini-Smaghi is on the wires with dovish comments on Reuters, but nothing new.
- No need to raise interest rates for the time being
- Do not see any risk of inflation at all
- eurozone economy recovering, passed turning point of recession
- Gradual recovery, marginal growth in 2010
- recovery depends heavily on stimulus
- must monitor credit and meonetary developments to avoid being behind curve
No change in EUR/USD despite the dovish tone, steady at 1.4946.
