- medium/long term aim of just under 2%
- have started to intensify preparations for ABS purchases
- interest rates will remain at present levels for an extended period
- ECB unanimous in its commitment to also using unconventional measures
- unutilized capacity still sizeable
- downside risks to economic outlook
EURUSD had a wobble on the ABS comments but back to 1.3370 again
- risks to inflation outlook broadly balanced
- inflation will gradually increase in 2015-2016
- underlying in broad money subdued
- credit standards remain tight overall
- ECB will closely monitor geo political development
- will closely monitor exchange rate developments
Statement done.. Now on to the Q&A
EURUSD finding some relief to 1.3380
