Mario Draghi, President of the ECB, is responding to questions from the press with key quotes found below.
- Mitigating measures to negative rates not discussed.
- Italy is one factor behind euro-area slowdown.
- Main factor for cutting 2019 forecast is slowdown in world trade.
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.
EUR/USD eyes 2019 lows on dovish ECB, Draghi.
EUR/USD is losing further ground today, testing the mid-1.1200s following the dovish tone from the ECB and Draghi’s press conference.
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).