Mario Draghi, President of the ECB, is responding to questions from the press with key quotes found below.
- The impact of negative rates different when they start and after they’ve been in place for long.
- On Brexit, in the aggregate, you wouldn’t expect much of an impact on the real economy.
- On Brexit, if value chains were to be broken, we can have lots of local and possibly serious effects.
- Italian data didn’t come as surprise.
- Priority in Italy is to restore growth and employment; Italy knows how to do it.
- Priorities must be pursued without causing increase in interest rates in Italy.
ECB keeps policy rate unchanged in April as expected.
In a widely expected decision, the European Central Bank (ECB) announced that the Governing Council left the interest rate 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/USD probes session lows near 1.1250 on Draghi.
The selling pressure is now hitting the single currency and is dragging EUR/USD to the area of daily lows in the boundaries of 1.1250.
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).