ECB's Rehn: Can push the policy rate into negative territory

In an interview with the Eurofi Magazine, European Central Bank policymaker and  Finnish central bank chief Olli Rehn said that the bank's easing measures would work as a package "with significant complementarities across the different instruments."

"We can push the policy rate into negative territory, employ forward guidance on the future policy path, purchase a significant stock of assets from a variety of asset classes to lower yields and offer banks targeted loans to ease their funding costs," Rehn said, as reported by Reuters.

Rehn's comments were largely ignored by market participants and the EUR/USD pair continues to trade in the upper half of its daily range near 1.1030, adding around 0.5% on the day.