Minutes just out. More to follow
- member agreed that emphasis needed to be placed on steady course, firm implementation of QE
- policy measures are working as intended
- strong signal needs to be sent to Eurozone govts over need for structural reform
- members agreed that there was no need to consider change in monetary policy but there was a need for flexibility
Euro dipping on that last comment it seems to me as I can't see anything else too obvious on first read through
- risks to economy more balanced but remain on downside
- concerns on scarcity of QE bonds are overstated
- weak euro and lower oil supportive of broadening economic upturn
Full text of the 14-15 May meeting summary here
EURUSD 1.1137 from 1.1160 EURGBP clinging onto the 0.7100 support/bids
