First this: EUR SPEAKER NOW! ECB's Bini Smaghi - "The ECB is not a strict inflation targeter" Tuesday, October 28, 2008 2:06:00 PM POSITION: ECB Board Member STANCE: Dove REMARK (28/10/08): "Slowing GDP growth is a concern. The ECB is not a strict inflation targeter, there is a tendency to use judgement as a central banker" VIEW: Dovish sentiment from Bini Smaghi following the switch in rhetoric seen from Trichet of late as we approach the upcoming 6th-Nov ECB meeting at which we expected rates to be cut 50bp -------------- Correct me if I'm wrong, but wasn't this one of the yahoos that was saying "Our First and Only Mandate is to Price Stability" for months and months and months? What a bunch of clowns these guys are! Poke fun at the Fed if you want about being a bunch of inflation spawners, but they at least maintain the same tune for the most part.