ECB Gilroy speaks in New York
He adds:
- ECB forecasts assume 2H rebound as headwinds fay
- first-half growth was much weaker than forecast
- inflation to recover gradually after slipping in 2019
- the ECB is committing to maintaining ample stimulus for as long as necessary to reach its inflation target
- France is less exposed to the global downturn than its peers
- The Brexit delay is wise and welcome
- ECB conviced the impact on negative rates is still positive
The EURUSD is little changed as it waffles in a narrow trading range.
