As ever, the day after an ECB meeting we get a plethora of ECB speak desperate to impart their knowledge to us after a self-imposed moratorium. The head of the Irish Central Bank, John Hurley is first up again re-inforcing the idea that the ECB have not decided that 1% is the lowest that rates can go. As befits the head of the Central Bank of one of the Eurozone countries hit hardest by the current recession Hurley is less bullish than most saying that the European economy is facing a very difficult 2009 and only sees a gradual recovery in 2010. Onto Irish property values he says that it’s “anybody’s guess” where prices go after in 2010 after a further reduction in 2009. Thanks for the heads-up !
Eur/Usd remains steady at 1.4210