Mario Draghi, President of the ECB, is now responding to questions from the press with key quotes, via Reuters, found below.
- Too early to say what part of the recent rise in certain countries’ target 2 liabilities reflect political uncertainty.
- We welcome the successful action by the Greek government, looking fwd to completion of programme.
- Greek waiver expires with programme.
- Changing of the ECB President only affects rate hike timing in the perverse minds of some market participants.
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EUR/USD trims losses, keeps 1.1700 post-ECB.
The shared currency remained apathetic after the ECB decision today, with EUR/USD a tad lower in the 1.1715/10 band.
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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