Euro Drops as Draghi Gives Investors the QE Hints They Wanted
- Common currency falls versus all of its major counterparts
- `Draghi is pulling no punches,' says Credit Agricole's Marinov
ECB's Draghi Hints at Additional Stimulus in 2015
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The euro tumbled to a two-month low after European Central Bank President Mario Draghi gave a crowd-pleasing performance at his policy address in Malta, leaving investors in little doubt he’s ready to deploy more monetary stimulus to boost the flagging economy.
The shared currency fell versus all of its 16 major counterparts after Draghi said officials will reexamine the scope of their quantitative-easing plan in December. The bond purchases, originally due to end next September, will continue until the ECB sees a sustained increase in the inflation outlook, he told reporters. Policy makers also discussed a further cut to the bank’s negative deposit rate, he said.