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Inflation expectations have fallen to levels which seem to be fashionably low. I guess the market is poking on the dovish side of that saying or reiterating that they have to be super careful that Inflation Expectations are not the ankle rate. Inflation expectations would equal monetary tightening, i. E. , would harm the fragile economic recovery. Also, that he was referring to the recent data from yesterday that the pmi levels are showing that a stronger recovery is rather unlikely in the coming months. It was probably back in the view of the doves in the markets. We are seeing that directly in the Euro Dollar Exchange rate. The euro is sharply lower versus the u. S. Dollar. Here there was a clear reaction also to the draghi equities are rallying on the back of those comments. But also, the hawks have some reason to see a backing from draghi, he is reiterating they are preparing for the unconventional measures in case the outcome of already taking measures is not decisions to raise in

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