Draghi answers questions on what's in the tool shed

  • There were a few members that hinted at the possibility of acting today
  • But, acting today wasn't the prevailing theme
  • There was not explicit preference for one instrument, discussion was wide open
  • There is no doubt about the effectiveness of monetary policy
  • The market improvement is being translated into a resilient economy
  • Judgment today is that our monetary stance is essential for a recovery in output and meeting our price stability objective
  • Repeats, id ECB sees assumptions change we may change QE or other instruments

Remember, Germany wasn't voting today and that could be a big feature in Dec when they're back in the frame