ECB’s Draghi: Data since September have been weaker than expected

Below are some key highlights from the introductory statement delivered by Mario Draghi, President of the ECB, at the ECON committee of the European Parliament, Brussels, 26 November 2018.

• The data that have become available since my last visit in September have been somewhat weaker than expected.
• Risks relating to protectionism, vulnerabilities in emerging markets and financial market volatility remain prominent.
• Underlying drivers of domestic demand remain in place.
• Overall, recent developments confirm the Governing Council’s earlier assessments of the medium-term inflation outlook.  
• The Governing Council, therefore, continues to anticipate that, subject to incoming data confirming our medium-term inflation outlook, net asset purchases will come to an end in December 2018.
• To ensure that inflation continues to move towards our aim in a sustained manner, a significant degree of monetary policy stimulus will be maintained, even after the end of net asset purchases.