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European Central Bank chief, Mario Draghi probably giving out the strongest signal possible to give by a central bank chief in an even other than monetary policy announcement. He is clearly signaling that ECB stands ready to fire some big shots at next meeting.
According to Mr. Draghi,
- Euro area recovery and repair is still not complete.
- Clearly hinting, since deposit rate is an appropriate monetary policy transmission channel, the bank might take action in that front.
- He iterated ECB's strongest determination to fight price stability, saying the bank won't ignore that HICP has been low for some time and the fact that core inflation is low.
- ECB stands ready to use all instruments available within mandate.
- He probably also sending a call to those who are against ultra-easy monetary policy, such as Bundesbank chief, saying that ECB must do whatever it can to raise inflation as quickly as possible.
Euro has taken a dip on the comments, trading at 1.067, down 70 pips from today's high, while European stocks and bonds are cheering higher. German 2 year yield, new record low and DAX is up 0.35%.
