- ECB comfortable with both conventional and unconventional steps
- implementation of measures would depend on a state of preparation
Executive board member Yves Mersch speaking in Tokyo
- ECB has room to act
- exchange rate is not a competitive instrument but from an inflation perspective rates have been playing more important role
- we do not see deflation on the horizon but we are preparing for such contingencies
- decision on cutting deposit rate is up to governing council
EURUSD a massive 2 pips lower at 1.3618
