Draghi Speech: appearing before EU parliament in Strasbourg

Mario Draghi, President of the ECB, appearing before the EU parliament in Strasbourg: "Statement of the President of the ECB on the Draft Resolution of the European Parliament concerning the ECB Annual Report 2016 in the European Parliament Plenary in Strasbourg, France". He has been hawkish here but the euro has not reacted so far.

Key note

  • Economic expansion is broad based.
  • Monetary policy will evolve in a fully time consistent and data dependent manner.
  • We can be more confident about the path of inflation.
  • But patience and persistence in regards to mon pol is still warranted.
  • There is no evidence of systemic credit-fuelled bubbles.
  • Financial stability situation in the euro area has also continued to evolve positively.
  • Euro area economy is expanding robustly, with stronger growth rates than prev expected and significantly above potential.
  • European parliament plenary debate on the ecb annual report for 2016.

About the European Central Bank's president Mario Draghi 

The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. As part of his job in the Governing Council he gives press conferences in the back of how the ECB observes the current European economy. President's comments may determine positive or negative the Euro's trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).

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