Mario Draghi, President of the ECB, is delivering his remarks on the bank’s monetary policy decision in a press conference with key quotes found below.
- Uncertainty around inflation outlook is receding.
- Underlying inflation to pick up toward the end of the year.
- Underlying inflation to rise gradually in the medium term.
- Implementation of structural reforms in euro area countries needs to be substantially stepped up.
- We need to rebuild fiscal buffers particularly in countries with high government debt.
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ECB Governing Council monetary policy statement July 26.
At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively.
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).
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