ECB's Coeure: Governing council is determined to act in case of adverse contingencies
Comments by ECB governing council member, Benoit Coeure
- ECB stands ready to adjust all of its instruments as appropriate
- Need to ensure inflation continues to move towards target
- Economic data, survey information points to somewhat weaker growth in Q2, Q3
- Risks surrounding euro area growth outlook continue to be tilted to the downside
- Underlying inflation is expected to increase in the medium-term
He's continuing the dovish rhetoric ahead of next week's monetary policy meeting and his remarks are consistent with what other central bank members have stated beforehand. The key question remains will they choose to adjust their forward guidance next week or begin introducing stimulus to get ahead of the curve?
EUR/USD holds steady at 1.1210, stuck in a 17 pips range so far today.