Comments by ECB vice president, Luis de Guindos

They have been more accepting of acknowledging the side effects of negative rates lately but at the same time they are also arguing that they have room to cut rates even more.

It's starting to sound a bit like the BOJ but if anything else, it goes to show that the ECB is in a bit of a mess right now as we are still awaiting Lagarde's first speech on policy since taking over as ECB president.