- Economy is still weak, fragmentation remains
- Key rates will stay at present or lower for an extended period
- Labor market conditions remain weak
This is a rehash of his comments following the ECB meeting, minimal reaction from EUR/USD which is capped by orders in the 1.2880-1.2900 range.
On the weekend, Der Spiegel reported that several ECB members, including Draghi, argued for a cut last week. That heightens the risk of a cut in the near term and will pressure the euro, despite the bounce today.
