MNI is reporting that “a significant majority” of ECB board members wanted a rate cut yesterday but Draghi, Weidmann, Coeure and Asmussen scuttled it. The other 18 members were in favor of easing ‘or at least refrained from actively opposing such a move.’ I don’t see why the euro is rallying on this. Even if the dissenters are core members, to me it makes a cut more likely. (full story)