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Euro, Bond Yields Tumble As ECB Official Says Stimulus Measures "May Overshoot"
And the jawboning begins: As Europe's banking system collapses, ECB is resorting to over-promising more of the same and as ECB Governing Council member Olli Rehn said, the ECB "will announce a package of stimulus measures at its next policy meeting in September that should overshoot investors' expectations." More from Bloomberg: “It’s important that we come up with a significant and impactful policy package in September,” ECB Governing Council member Olli Rehn (governor of Finland's central bank) says in interview with Wall Street Journal. “When you’re working with financial markets, it’s often better to ... (full story)