Just kidding about that thing, guys
Bloomberg is out with an ECB sources story that says the market misinterpreted Draghi's remarks.
The speech "was intended to strike a balance between recognizing the currency bloc's economic strength and warning that monetary support is still needed" Bloomberg reports, citing people familiar with the matter.
To be fair, the market read a lot into this line, which is fairly benign:
"While there are still factors that are weighing on the path of inflation, at present they are mainly temporary factors that typically the central bank can look through."
The euro immediately tumbled to 1.1290 from 1.1376 on the headline.
Update: Reuters later published a similar story that said the comments were intended to prepare markets for a decision on stimulus later this year without making a commitment.
