- OMT bond-buy programme is necessary, proportional, effective monetary policy instrument
- Secondary market buys not for circumventing monetary financing prohibition
- OMTs used to address malfuctioning of certain market segments
- To end OMTs once objective has been achieved
- IMF involvement sought in activation of OMTs
- ECB has “full discretion” to suspend OMTs
EUR/USD sits at 1.2871, up 4 pips from the level that greeted me first thing
