ECB’s Constancio says Eurozone monetary policy needs to be very accomodative

ECB vice-pres speaking in London.

• macro-prudential policy must be bold and we must extend the tools we have been given

Nothing of real note as yet

• whatever froth you think there is in the Eurozone markets, credit is still falling

EURUSD 1.2775 having posted new session highs of 1.2790

Constancio pulling another happy face