Further comments by ECB governing council member, Olli Rehn
- The whole ECB toolbox is on the table in the forthcoming meetings
Yeah, because the last one worked out so well didn't it? If anything, expect rate cuts first by the ECB to test waters but if a recession is imminent then I reckon they won't have much other choice except to reintroduce QE because they haven't much capacity to work with to be honest. In fact, in the event of a global downturn, it is likely only the Fed who has enough room to use interest rates as a buffer.
