Following the European Central Bank's (ECB) decision to lower its rate on the deposit facility by -10 basis points to -0.5% and start a monthly open-ended asset purchases of €20 billion, Mario Draghi, President of the ECB, is delivering his remarks on the considerations underlying these decisions at with key quotes, via Reuters, found below.
"ECB sees 2019 GDP growth at 1.1% vs 1.2% seen in June."
"ECB sees 2020 GDP growth at 1.2% vs 1.4% seen in June."
"ECB sees 2021 GDP growth at 1.4% vs 1.4% seen in June."
"Euro area to be supported by financing conditions, employment, wages, fiscal stance, global growth."
"Risks tilted to the downside."
"Uncertainties relating to geopolitics, protectionism, emerging markets."
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).
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