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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.