Yes, but the inflation risks of the weak Euro may scare them.
> On Tue, Oct 7, 2008 at 7:11 AM, Karim wrote:
> Bini Smaghi is quite influential. Here he has a clear easing bias
> and is saying they may cut intermeeting.
> Yesterday, the Austrian CB Governor said the ECB needed to do
> ’everything necessary’ to promote growth, similar to the
> Bernanke comment earlier this week on using ‘all the tools we
> have’. Even Fisher was dovish yesterday.
ECB’s Bini Smaghi Says Price Pressures Waning, Reuters Reports
Oct. 7 (Bloomberg) — European Central Bank Executive Board member Lorenzo Bini Smaghi said inflation pressures have become “less important” and the bank will make monetary-policy decisions when needed, Reuters reported, citing Italian radio.
“The economic situation has got worse, the inflationary pressures are always there but they are less important than in the past and we will take decisions at the appropriate time,” Bini Smaghi was quoted as saying.
While European countries have responded with different strategies to the financial crisis, the important thing is to restore confidence and Europe is “ready to do anything” to maintain stability, Bini Smaghi said, according to Reuters.