Headlines from Bloomberg, citing sources.

  • Draghi poised to keep rate cut option even after June move
  • “Draghi is likely to signal that any cut this week won’t necessarily be the final one”
  • Bloomberg cited two unnamed eurozone central bank officials
  • ECB could offer banks funding equivalent to 5% of their outstanding loan portfolios
  • Officials will significantly lower the 2014 inflation outlook from the 1% forecast from March

Not even a slight knee-jerk reaction in the euro. Most of these headlines are out there but talk of more rate cuts is more dovish than 10-15 bps which is the range of action that nearly everyone saw.