More from Draghi: We have rules for QE and majority of council want to keep them as they stand

ECB president Draghi into the Q&A session 10 May
– we will naturally exit stimulus together with the improvement in the economy and rebound in inflation
– book losses on bonds bought under depo rate will be small for national central banks
Nothing we didn’t already know.Stimulus exit is coming sooner rather than later but not necessarily any time now. EURUSD suitably unfazed at 1.0875, EURGBP 0.8395 and EURJPY 123.80