She's fitting well into her future role with such comments
- ECB needs to listen to and understand markets
- But need not be guided by markets
- Says that a review of monetary framework is warranted
There has been a bit of a push back by ECB members over the past two weeks in that they are not afraid to "disappoint" market expectations about the debate of reintroducing QE.
The notion has only grown over the past few days with Villeroy the latest to chime in on the matter. As mentioned yesterday, the real issue in all of this is that in restarting a similar QE programme as with the past, the ECB doesn't have much room to stimulate the economy any further than it already has.
It is either the ECB changes the issuer/purchase limits or don't pursue QE at all. There isn't really a middle ground here in my view.