Draghi speech: Convergence to target will be maintained even after APP

Mario Draghi, President of the ECB, is delivering his remarks on the bank's monetary policy decision in a press conference with key quotes, via Reuters, found below.

  • Convergence to target will be maintained even after APP.
  • Sees substantial progress in inflation adjustment.
  • Significant monetary policy stimulus is still needed to support the domestic price pressures.
  • The Governing Council stands ready to adjust its policy to ensure the inflation continues to move toward the target in a sustained manner.

Key notes

EUR/USD turns negative below 1.1800 post-ECB.

The European currency loses traction today after the European Central Bank left its monetary policy unchanged at today’s meeting, with EUR/USD around the 1.1770 area for the time being.

ECB: 3m Taper announced while rates remain on hold - TDS.

The ECB announced the end of its QE programme today, with a 3m taper at €15bn/month through to December 2018, notes Jacqui Douglas, Chief European Macro Strategist at TDS.

About 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).

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.