The ECB pull out all the stops and more
- All rates cut
- Extra €20bn in QE
- 4 new long term refi operations where the banks will get paid to take them up
- Widening the net on asset purchases
Is there much more he can add to that at the presser?
He can and might choose strike while the iron is hot.
There's no doubt there's more details to come, not only in explaining these new moves but what may follow. There was no mention of bank NPL's, which was a big ticket item the market saw as a possible choice. That might still be on the table.
There's still elevated risk here so don't think that a 140 odd pip drop in the euro is the end of it. Draghi will probably take the proverbial bull by the horns and ride it into the sunset.
Whatever he does, you can watch it all live here.
Draghi pulls the trigger
