Friday, March 11, 2016

ECB reassures

After cutting interest rates to zero, the European Central Bank's Mario Draghi sent "reassurance" to the markets concerning the Euro yesterday by suggesting further cuts won't be necessary.
His comments that “taking into account the support of our measures to growth and inflation, we don’t anticipate that it will be necessary to reduce rates further” sent dealers piling back into the single currency. It ended up gaining ground against the pound and the dollar. 
So who's crazier? Draghi for saying what he did, or those who find reassurance in ECB policies and Draghi comments?

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