Mario Draghi, President of the ECB, is responding to questions from the press with key quotes found below.
- ECB actions can’t stop impact of protectionism, Brexit.
- ECB actions will improve resilience of economy.
- Don’t want to speculate on use of APP.
- Very open to act when needed.
- Several Governing Council members presented option to change calendar forward guidance to March next year.
- Other members discussed consequences of low for longer on banks.
- Markets have pretty well understood our reaction function.
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).