Commenting after the ECB Peter Chatwell....>

ECB VIEW: Commenting after the ECB Peter Chatwell from Mizuho says "Almost every

Euro asset class has sold off, with equities taking a hit, spreads widening and

yields rising. Financial conditions are therefore significantly tighter,

post-ECB press conference, than they were beforehand. We are surprised that the

market did not even react to Draghi's explicit downplaying of the chance of a

hike this year, when one is already priced for December. This is a market which

is steadfastly pricing tighter monetary policy, even though this will probably

lead to the ECB's staff forecasts of inflation being revised down at the March

meeting, reducing the probability of tighter policy being realised."