ECB Bulletin: QE can be changed in size and duration if needed

The latest ECB bulletin published today, pointed towards a strong pick up in the headlines CPI figures by 2016-end.

Key Highlights:

Headline CPI will pick up strongly at the turn of the year

Abundant global spare capacity dampens core inflation

Moderate recovery is proceeding

ECB stands ready to use all the instruments available within its mandate

QE can be changed in size and duration if needed

Meanwhile, EUR/USD continues to waver around the mid-point of 1.04 handle, lacking further momentum.