Wires have been active surrounding the European Central Bank this weekend.
Especially forceful or persistent monetary policy measures are required to safeguard price stability when the economy is close to the lower bound, says Executive Board member Isabel Schnabel.
''This may also imply a transitory period in which inflation is moderately above target.''
In prior notes, the central bank’s policymaker Yannis Stournaras said new strategy on inflation targeting allows more flexibility and preparedness for a future crisis:
ECB’s Stournaras: New strategy leaves central bank more prepared for crises
EUR/USD technical analysis
Meanwhile, there has been no direct impact on the euro, but the bulls are in control.
A correction to the 38.2% Fibo could find further demand for an hourly extension to the upside for the day ahead.
