Draghi tries to convince markets that they are not talking about tapering but does say they will talk about the next moves in the autumn. The ECB PResident finds himself explaining the communications, trying to explain that “we are not there yet” regarding inflation.
Markets don’t buy it. The next move is tapering and the situation is improving. EUR/USD is shooting higher.
Update: EUR/USD leaps to highest since 2015 on Draghi, Trump trouble
Follow the live blog and live coverage of the event:
Draghi Live blog July 2017 – as it happened
ECB Live coverage July 2017 – as it happened
July 2017 ECB background
The President of the European Central Bank meets the press after they left interest rates unchanged. Markets were anticipating any kind of hint towards the next move of the ECB, namely QE tapering. An announcement is expected in September.
EUR/USD retreated from the highs seen earlier in the week ahead of the event.