ECB's Mersch blames leaks for inflated expectations

Yves Mersch now speaking

• Leaks from ECB committees led to inflated expectations
• Fed hike may cause short term volatility
• ECB can always add more is the sky falls in
• ECB to maintains stance using all means possible
• Two-tier deposit rate had no chance of approval
• Reinvesting QE could inject €320bn over two years
• Municipal debt market is worth up to €380bn
• Governing council majority agrees that more action is not needed to reach inflation goal

Nowotny blamed the analysts for overblown expectations while Mersch blames leaks. I think we know what group don't know their arse from their elbow ;-)