ECB's Villeroy: We ought to be sustainably round 2% inflation goal by summer time

• Direction of travel is clear, pace is pragmatic
• ECB should exercise agile pragmatism in pacing future cuts
• Rise in long-term yields limiting the easing of overall financial conditions

This is some clear communication. The market sees about 75 bps in easing this year to 2.00%.

This article was written by Adam Button at www.forexlive.com.