ECB issues speedy correction as euro plummets

The European Central Bank has issued a hasty correction following Jorg Asmussen’s comments earlier that forward guidance goes beyond 12 months. The bank said that Asmussen aimed to confirm guidance for an “extended period” rather than an exact length of time.

Last week, ECB president Mario Draghi was repeatedly asked to clarify what was meant by “extended period”. But speaking on Reuters TV, Asmussen said that forward guidance is "not six months, it's not 12, it goes beyond".

You can see the comments from Asmussen here:

The euro is bouncing back slightly against the dollar, but this may be more to do with the close of the European markets than the ECB’s correction.