Not much new in the extensive Christine.........>

ECB: Not much new in the extensive Christine Lagarde written testimony to the

European Parliament really, apart from the fact that her outgoing predecessor as

ECB President Mario Draghi could have written much of the testimony himself, so

close is it to existing ECB rhetoric.

- The 'ECB hasn't hit lower bound' (which should already be pretty obvious)

comments in full: "While I do not believe that the ECB has hit the effective

lower bound on policy rates, it is clear that low rates have implications for

the banking sector and financial stability more generally. So it will be

essential to closely monitor whether adverse side effects may emerge in the

future, the longer low interest rates are in place."