Mario Draghi, President of the ECB, is delivering his remarks on the bank’s monetary policy decision in a press conference with key quotes found below.
- Incoming information somewhat weaker than expected.
- Business investment is supported by solid domestic demand.
- Housing investment remains robust.
- Expansion in global activity is expected to continue to support the euro area growth.
- Private consumption is fostered by employment growth and rising wages.
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ECB leaves benchmark interest rate unchanged at 0%, reduces monthly QE to €15 billion.
At its monetary policy meeting held today, the Governing Council of the European Central Bank (ECB) decided to leave the interest rates 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/JPY sticks to modest recovery gains, above 128.00 mark post-ECB.
The EUR/JPY cross held on to its modest recovery gains, just above the 128.00 handle, and had a rather muted reaction to the latest ECB decision.
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).
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