The German DAX added 2.6% from Wednesday lows, while the British FTSE100 fell by 2.5% at the beginning of the week and could not turn to growth due to the strengthening of the pound. The ECB added fuel to the fire, stressing that external risks from China to Brexit could undermine the region's economic growth even more. ECB officials say in their speeches that in 2019 the rate hike may not happen, and that the recent decline of oil will put pressure on inflation in the coming months.