ECB's Draghi says 'no doubt' the bank would use additional measures, if needed

FXStreet (Córdoba) - There is no particular limit to how European Central Bank can deploy policy tools, said President, Mario Draghi on Friday a day after the bank decided to adjust its bond buying program.

Draghi said there is “no doubt” the ECB would use additional measures, if needed. Regarding yesterday’s decision, Draghi said they considered the package “as the right one” and it was never meant to address market expectations.

Among other remarks, ECB President said that that thanks to the bank’s policies, risk of deflation was “firmly off the table” and those policies are gradually translating into inflation.

He was speaking at Economics Club of New York Event.

Dec 4, 2015

S&P changes South Africa's outlook to negative - TDS

Analysts at TD Securities noted that the first of the two rating reviews of South Africa scheduled for today was resolved with a change of outlook to negative from stable by S&P, and the affirmation of the BBB.

EUR/USD: making session lows on Draghi jawboning

EUR/USD is making new session lows on Draghi's comments. After yesterday's bad behaviour from him, one might expect some jawboning with the euro rallying yesterday the furthest it has done in six years. "More stimulus can be deployed if need be...while 680b EUR is added in liquidity" was the catalyst and the euro was 40 pips lower to session lows of 1.0836 before a recovery back into the 1.0870's at time of writing.