ECB’s Sramko says that he sees signs the eurozone economy is stabilizing and says it may turn up later this year. Bundesbank head Weber disagrees and says mid-2010 is the earliest.
He says lengthening ECB bank loans to 12 months (one of the non-standard measures) will help market conditions. Rates, he says are appropriate for now and says it is not possible to draw future conclusions on future trends.
EUR/USD is recovering lost ground, now back up to 1.3635 as US equities cut there losses in half.
