After Benoît Coeuré's rather dovish interview with the Financial Times, suggesting that “at some point during our next few meetings, we might very well be facing a situation where risks have materialized”, ECB president Mario Draghi went one step further with his speech in Sintra today There should more no more doubts about the ECB’s determination to act. In fact, the major question is no longer what it would take the ECB to cut rates but rather what it would take the ECB not to cut rates. Next steps could follow as soon as at the July meeting. In Draghi’s Sintra speech, the economic assessment was a bit more dow ... (full story)