ECB said to see scope to wait for July meeting to signal end of QE

BBG report

• The officials want more time to assess the recent slowdown
• Said to have no talks on interest rate path after QE

The euro quickly fell to a session low of 1.2250 on the headlines but has bounced back to 1.2267.

From the report:

"Governing Council members want sufficient time to judge if the economy is overcoming its first-quarter slowdown, the officials said."

At least they've started to acknowledge the recent poor data.

The ECB has repeatedly signaled it would wait but it was between June or July. Looks like the latter.