Draghi speech: confident that the recovery momentum will continue going forward
|Here are some key quotes from the ECB President Mario Draghi’s scheduled speech at the Frankfurt European Banking Congress:
• We have increasing confidence that the recovery is robust and that this momentum will continue going forward
• The signaling effect of asset purchases has therefore naturally increased in prominence relative to the duration effect
• Recovery therefore has not come against the backdrop of re-leveraging in any economic sector
• We see more signs that growth is “feeding on itself”
• Horizon of our net asset purchases, mechanically affect the time of the first expected rate hike
• As regards bank profitability, ECB research finds little evidence that our monetary policy is currently doing harm
• We are not yet at a point where the recovery of inflation can be self-sustained without our accommodative policy
• We do now see inflation moving steadily away from the very low levels of recent years
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