ECB governing council member and Belgian CB gov Smets out on Bloomberg TV 19 June

  • we'll have to make up our minds by end of the year
  • we'll not wait until 31 Dec to tell what will happen on 1 Jan
  • ECB will look very closely at wage growth
  • need to see inflation expectations re-anchored
  • Brexit will impact UK more than Eurozone
  • Brexit could be used to deepen EU monetary union
  • start of Brexit talks a sad day

Sad day? More like a pointless day with UK govt still seeking a mandate.

EURUSD 1.1192 steady again after its drop to 1.1183 from 1.1205

ECB's Smets - Will decide on QE before year-end