Mario Draghi, President of the ECB, is now responding to questions from the press with key quotes, via Reuters, found below.
- Lending rates going up still moderately for households and firms (in Italy).
- After interest rates go up, room available to expand budget gets smaller.
- Banking rates increases not material in Italy.
- We have observed some increase in interest rates in some other non-core countries.
- There may be some spillover from Italy but it’s limited.
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EUR/JPY sticks to modest recovery gains, above 128.00 mark post-ECB.
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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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