More from Villeroy: ECB has a duty to protect price stability in both directions

Bank of France governor and ECB governing council member still up to the rostrum 8 June 2016

• ECB sees no signs of financial bubbles
• danger of too low inflation and even deflation much more present than risk of high inflation

Gee, thanks for that insight . We've never have guessed otherwise.

• ECB looking at issue of asset prices
• Germany also has too-low inflation
• must not forget the lessons of 1930's deflation
• France needs more reforms, Germany more investment

Meanwhile the ECB are reported to be buying RWE bonds on the first day of its corp bond purchases.