ECB chief economist with a revelation ( not) to justify his fees

  • reforms will be needed to decisively shift expectations
  • cyclical recovery is taking hold
  • ECB re-addressed de-anchoring of inflation expectations
  • ECB will continue to provide on-going monetary policy support

Peter Praet, member of the Executive Board speaking at a conference on overcoming the crisis in Europe. That one could run for a while

Meanwhile EURUSD is back below 1.1300 and EURGBP up to 0.7374 as cable slips to test 1.5300