Draghi Q&A
- Today's meeting was a work and assess
- Mon pol should not be the only game in town
- There was a very rich discussion about all mon pol instruments
- There has been no specific choice of tool, we are open to a menu of instruments
- Council has tasked committees to work on different tools
- Recovery to continue at same pace as Q2
- Resilience in economy is driven by consumption
- Low oil price is still a driver of recovery
- ECB looks at two factors for economy, domestically and internationally
- Headline inflation will stay low for protracted period
- Inflation expectations have declined for short term, med-long term is unchanged
- ECB is ready to act if 2% target is in danger of being pushed back
- Further deposit rate cut was discussed
That's EURUSD through 1.1200 to 1.1195
