Draghi speech: Outlook is getting worse and worse

Eren Sengezer FXStreet

Following the European Central Bank's expected decision to keep the benchmark interest rate steady at 0%, Mario Draghi, President of the ECB, is responding to questions from the press with key quotes, via Reuters, found below.

"There was broad agreement on the outlook."

"Still see signs of strength in the economy."

"Outlook is getting worse and worse."

"Outlook getting worse and worse in manufacturing especially."

"Possibility of hard Brexit is another factor."

"Slow rotation of Chinese economy affecting the present outlook."

"Rebound in second half becoming less likely."

"On inflation side, we see convergence further out."

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).

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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