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Draghi speech: Majority of Governing Council  saw outlook deteriorating more than expected

Following the European Central Bank’s (ECB) decision to lower its rate on the deposit facility by -10 basis points to -0.5% and start a monthly open-ended asset purchases of €20 billion, Mario Draghi, President of the  ECB, is now responding to questions from the press with key quotes, via Reuters, found below.

“There was unanimity that fiscal policy should be main tool.”

“High time for fiscal policy to take charge.”

“Broad agreement on forward guidance, rate cut, TLTRO and reinvestmsnets”

“More diversity of views on the Asset Purchase Programme.”

“Difference of views on severity of outlook.”

“Majority of Governing Council  saw outlook deteriorating more than expected.”

“Others viewed deterioration with more caution.”

“Inflation expectations re-anchoring at below aim, between 0 and 1.5%.”

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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