Mario Draghi, President of the ECB, is responding to questions from the press with key quotes found below.
- We are in a period of continued weakness.
- Factors that have caused weakness are mostly external.
- Governing Council expressed confidence in baseline.
- Probability of recessions very low.
- Deanchoring of inflation expectations also very low.
ECB leaves benchmark interest rate unchanged at 0%, rates to remain at present levels through end of 2019.
At its monetary policy meeting held today, the Governing Council of the European Central Bank (ECB) decided to leave the interest rates 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.
ECB: Surprise dovishness – TDS.
According to analysts at TD Securities, the ECB eased its policy stance today, against consensus expectations, by both extending its time-contingent forward guidance and launching a new series of TLTROs.
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).