ECB's Draghi: Downside risks related to FX markets continue to exist
|Key highlights from the introductory statement by Mario Draghi, President of the ECB, at the ECON committee of the European Parliament, Brussels, 25 September 2017:
- Over the past 12 months, the recovery has accelerated and broadened, supported by the pass-through of our monetary policy.
- Real GDP growth was better than expected in the first half of 2017.
- Latest information indicates continued momentum in the period ahead.
- Risks surrounding the euro area growth outlook are broadly balanced.
- At the same time, downside risks continue to exist, mainly related to global factors and developments in foreign exchange markets.
- A very substantial degree of monetary accommodation is still needed for the upward inflation path to materialise.
- We will decide later this year on a re-calibration of our instruments.
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