ECB's de Guindos: Euro area economic risks clearly tilted to the downside

Comments by ECB vice president, Luis de Guindos

• Sees that inflation is to deteriorate in the coming months
• ECB is prepared to act if deterioration continues
• Indicators point to very moderate global growth

The Fed's message yesterday has opened up a can of worms in the central banking world and the ECB is not shying away from trying to lead the dovish chant. Draghi's remarks in his press conference at the start of the month laid the groundwork before he doubled down on that earlier this week. Now, the rest of his entourage is joining in on the fun as well.

• ECB's Knot: Central bank actively thinks about 'emergency plans' in case growth doesn't pick up
• ECB's Rehn: Central bank ready to act as appropriate unless economy improves
• ECB's Rehn: We will also consider resuming asset purchases