Draghi: Governing council members need to be convinced on sustained inflation

Was asked if the ECB could raise rates before the end of QE

Hahaha he's getting in a tizzy finding quotes in his note :-D

  • Won't speculate on rate hikes before QE ends

That's not a no then ;-) 1.0600 trades...

  • The ECB's rate guidance is an expectation

  • There's no merit in attacking Germany's surplus

  • Euro FX rate is determined by market forces

  • Trade weighted euro is not off historical averages

  • ECB discussion was consensual

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