Reuters is out with an ECB sources report already, noting that the decision to cut was unanimous. There are some dovish indications in the statement and now the ECB is racing this out.
The market may have initially reacted to the line that policy was no longer restrictive but the text also said that financial conditions are tightening, so the ECB may be edging towards offsetting that with another cut, particularly with the growth outlook worsening.
EUR/USD is down 55 pips on the day.
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