Mario Draghi, President of the ECB, is delivering his remarks on the bank’s monetary policy decision in a press conference with key quotes, via Reuters, found below.
- Forward guidance extension takes into account prolongation of uncertainty.
- Uncertainty about Brexit negotations also factored into fwd guidance change.
- Economic data are not bad.
- Extension is by 7 months.
- Taking slide in inflation expectations seriously.
- No probability of deflation.
- Low probability of recession.
- No threat of deanchoring in inflation expectations.
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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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