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.
- Weakening momentum slowing inflation convergence.
- Financing conditions, labour market, wage growth underpin expansion.
- Today’s decisions will support further build up of headline inflation.
- ECB ready to adjust all instruments.
- Impact of these factors is longer lasting.
- Near-term growth outlook weaker than anticipated.
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).