ECB top deputy Constancio says the central bank is ready to act swiftly if inflation is too low.
Ready is one thing, willing is another. German inflation numbers missed estimates in March and there are no signs of a pickup in inflation.
The real message is ‘wait and see’ but how long will we have to wait? Final eurozone March CPI numbers aren’t due until next week but the highlight this week will be France which reports Feb industrial production and CPI on Thursday. Until then, euro traders might be caught in the chop.