Draghi reels off the list of successes resulting from mon pol
Notes steady growth, increased employment
- Recovery broadened further last quarter across sectors and countries
- Risks of deflation have largely disappeared
- Market based inflation expectations have risen but remain below levels reflecting victory on inflation
He's waffling on but the question was quite simple, "Does he view inflation differently now?". He's gone all around the houses but has not answered. Take that as you will.
ECB have removed sentence on using all instruments available
Was removed because there is no longer that sense of urgency to use those actions
That's being read as hawkish.
There was a cursory debate on removing "lower rate" reference
What Draghi is saying is that the risks they have been worried about are dissipating and so they want to adjust language to show that. That's only being read one way by euro traders.
