Draghi's Weeks of Rhetoric Culminate in ECB Stumble on Stimulus
- Deposit-rate cut plus QE boost at low end of expectations
- ECB president insists fresh measures will be `adequate'
ECB Decision: Did Draghi Deliver?
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Mario Draghi might have missed the mark this time.
The European Central Bank’s 360 billion-euro ($393 billion) stimulus boost and rate cut on Thursday, which was in line with the president’s wishes, sent the euro soaring and stocks and bonds tumbling as disappointed investors matched reality to their expectations. The disconnect was even enough to catch the eye of Federal Reserve Chair Janet Yellen, who commented in the U.S. Congress that “the market expected some actions that were not forthcoming.”