- European Central Bank President Mario Draghi has said that the ECB would need to take a "more expansionary stance," including "a broad-based asset-purchase program," should inflation remain too low for too long.
- Draghi warned that the ECB needs to be watchful for "the potential for a negative spiral to take hold between low inflation, falling inflation expectations and credit, in particular in stressed countries. He was speaking at a symposium of central bankers and top economists in Portugal.
- Draghi didn't say what action the ECB might take when policy makers next meet on June 15. Analysts believe that the bank might cut interest rates to 0.15% from 0.25% and implement a negative deposit rate, but asset purchases aren't expected just yet.
- The euro is +0.1% at $1.3642.
- ETFs: VGK, FEZ, IEV, EU, EPV, EUFN, EZU, HEDJ, FEU, FEP, UPV, ADRU, FEEU, EURL, EURZ, DBEU, FIEU
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