Helicopter Ben will get a new moniker once he's released from his position: Don Quixote.

Both the BoE and ECB heads said it in plain English that inflation is their preoccupation. And oil has retreated some 20%+, yet gas prices in France for example, are only 10% down from their peak. The other 10% went for rebuilding profit margins. Thus don't expect to see rate cuts in Europe anytime soon while inflation remains well above target levels.
And what do you think is the effect of a depreciating euro on the price of Chinese imports? You guessed it right: inflationary.