ECB sources from Reuters

  • Some policymakers cautious about lifting easing bias in July due to market turbulence
  • ECB might drop only part of easing bias, leaving in reference to either the size or the duration of QE

Six 'central bank officials' cited by Reuters said they were unnerved about the latest moves.

These are landing in a very quiet market. They're euro-negative.

The ECB has been trying to walk back the latest euro rally and climb in bund yields. Looks like they do not want to see either go higher.

"I was thinking we'd drop the other easing bias in July, but after the market reaction to Draghi's speech I'm less sure about it," one official cited in the report said..

He's a look at 10-year German note yields.

The next ECB meeting is July 20.