· President Draghi said that there is no need for unanimity to launch sovereign QE
· On the other hand, he didn’t discuss on what kind of majority would be needed to launch a QE since no such program is considered yet
· On a question why isn’t the ECB taking action now, Draghi referred to the big change in oil prices that the Bank need to assess the impact. Added to this, the measures taken in the recent months haven’t had their full effect
· Thus, the Council will take its time before considering new policies
· On falling oil prices Draghi said the net impact of the oil price fall is unambiguously positive for Europe
· EUR/USD moved up during the press conference and remained around 1.2400 due to disappointment for no comments on further action and a less dovish stance by the ECB Draghi compared to his latest speech where he showed concerns over the “excessively low inflation”
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