Below are some key takeaways from the introductory statement delivered by Mario Draghi, President of the ECB, at the ECON committee of the European Parliament, Brussels, 28 January 2019.
- Over the past few months, incoming information has continued to be weaker than expected on account of softer external demand and some country and sector-specific factors.
- The persistence of uncertainties in particular relating to geopolitical factors and the threat of protectionism is weighing on economic sentiment.
- At the same time, supportive financing conditions, favourable labour market dynamics and rising wage growth continue to underpin the euro area expansion and gradually rising inflation pressures.
- Significant monetary policy stimulus remains essential to support the further build-up of domestic price pressures and headline inflation developments over the medium term.
- The Governing Council stands ready to adjust all of its instruments, as appropriate, to ensure that inflation continues to move towards the Governing Council’s inflation aim in a sustained manner.
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