Like the good Bundesbanker he was before he ascended to the ECB, Jurgen Stark says that the negative inflation numbers that will be released this summer are of no concern to the ECB. Inflation is the concern and accommodation will be quickly reversed when the economic recovery starts.
Following on the heels of similar comments from Herr Weber, the EUR is getting a boost, back above 1.3900, chipping away at offers which stretch to 1.3925.
