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Below are the key quotes from the introductory statement delivered by  Mario Draghi, President of the ECB, at the ECON committee of the European Parliament, Brussels, 24 September 2018.

  • Latest ECB staff macroeconomic projections confirm the outlook for continued broad-based growth of the euro area economy.  
  • Confident that the pick-up in wage growth will continue, as wage agreements often last two years or more.
  • ECB projections foresee inflation excluding food and energy reaching 1.8% in 2020.
  • For our baseline expectations of a rising inflation path to materialise, we need to remain patient, prudent and persistent in calibrating the monetary policy stance.
  • Key ECB interest rates are expected to remain at present levels at least through the summer next year.
  • Our monetary policy measures have made a very substantial contribution to the positive economic developments in the euro area.