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Below are some key takeaways from the introductory statement delivered by Mario Draghi, President of the ECB, during his exchange of views with the House of Representatives in Dublin, Ireland, 8 November 2018.

  • Significant monetary stimulus will still be needed to ensure the continued sustained convergence of inflation to levels that are below, but close to, 2% over the medium term.
  • We expect to keep interest rates at their present levels at least through the summer of 2019.
  • The overall favourable outlook and our still accommodative stance should not invite complacency.
  • The protectionist trade measures implemented may have had very limited effects thus far, but the escalation of trade tensions is undermining confidence.
  • Eurobarometer data show that support for the euro stands at a record high of 77% among euro area citizens and a large majority believe that their country’s membership of the EU is a good thing.