Mario Draghi’s insistence that he’s determined to revive euro-zone inflation with interest-rate cuts and renewed bond purchases if needed isn’t convincing investors.
The European Central Bank president talked a tough game on Thursday after policy makers extended their pledge to keep borrowing costs at record lows and announced more cheap loans to banks. Yet traders pared bets on a rate cut, the yield curve for German bonds flattened -- a sign of worsening economic prospects -- and a market measure of inflation expectations closed near the lowest on record.
