ECB executive board member Mersch in Q&A after Milan speech 9 Oct

  • while outlook has considerably improved across the sectors, we have seen some disappointing developments in inflationary pressure
  • we're still concerned with stock of NPL
  • the faster we reduce risk the faster we can progress with banking union
  • recent info needs to be factored into ECB inflation discussion

Stating the blindingly obvious but inflation concerns highlighting again the predicament in which the ECB finds itself and putting tapering timing in question.

EURUSD still going nowhere in a hurry at 1.1737 EURGBP 0.8948 EURJPY 132.18