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.
- Positive contribution of negative rates is not undermined by side effects.
- ECB to continue to monitor bank-based transmission, case for mitigating measures.
- Despite better than expected Q1 data recent info indicates headwinds continue to weigh on euro area.
- Global headwind continue to weigh.
EUR/USD rebounds to 1.1250/60 post-ECB.
The shared currency now looks volatile following the ECB decision on rates, with EUR/USD falling to the 1.1200 handle and then bouncing to the 1.1250 zone.
EUR/GBP reverses a dip to multi-day lows, back above mid-0.8800s post-ECB.
The EUR/GBP cross quickly reversed a dip to fresh session tops and rallied around 25-30 pips after the latest ECB monetary policy update.
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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