ECB (European Central Bank) President Mario Draghi said Tuesday that the ECB is considering more “non-standard” policy tools to use “if circumstances warrant”.
According to the speech, ECB monetary policy has also “regained steering capacity” and Europe still has a “rich reform agenda”.
“We will look with an open mind at these measures that are especially effective in our institutional setup and that fall within our mandate,” Draghi said Tuesday. “Some of those measures may have unintended consequences. This does not mean that they should not be used, but it does mean that we need to be aware of those consequences and manage them appropriately.”
Any time that a country resorts to quantitative easing, they can expect a lot of “unintended consequences”.
It looks like the Euro is slightly weakening as of now, looking at the 4-Hour chart. For the most part, these comments should be dovish.
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