Draghi speech: Risk of recession for eurozone remains low
Mario Draghi, President of the ECB, is responding to questions from the press with key quotes found below.
- We didn't discuss guidance.
- GC members are acknowledging weakening of economy.
- Inflation will probably bottom in September.
- Main goal of meeting was to reassert readiness to act if needed.
- Risk of recession for eurozone remains low.
Related articles
ECB keeps policy rate unchanged in April as expected.
In a widely expected decision, the European Central Bank (ECB) announced that the Governing Council left the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.40% respectively.
EUR/USD stays bid around 1.1280 on steady ECB.
The single currency remained apathetic after the ECB decision today, with EUR/USD navigating the upper end of the weekly range in the 1.1280 area.
About Mario Draghi
The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. As part of his job in the Governing Council he gives press conferences in the back of how the ECB observes the current European economy. President's comments may determine positive or negative the Euro's trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).