‘Read the letters stoopid’ is what he thinks, but says so more politely, to what the question raiser should do.
- ECB didn’t give deadline to develop new measures
- 2012 balance sheet levels refers to post LTRO levels, March 2012
- ECB hasn’t discussed specific instruments today
- ECB spent many hours discussing how to work ABS program
- Important thing is to stay within ECB mandate
EUr/USD has had a dip below 1.24 to 1.2396 and is waltzing around 1.2420/30
