Draghi's Words Mean Little to European Markets Expecting Action

From bloomberg.com

Debt and money markets are readying for a cut to the European Central Bank’s deposit rate, regardless of what its policy makers say in public. Traders are pricing in a possible reduction to the rate for holding overnight deposits, said UBS Group AG and Barclays Plc. ECB officials have declared it’s too early to expand stimulus and President Mario Draghi said more than a year ago that rates have reached their nadir. Economists predict changes to its bond-buying program, or quantitative easing, would come before any adjustment to more conventional monetary tools. With inflation in the euro region once again ... (full story)