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.
- Latest economic indicators are weaker but remain consistent with ongoing economic growth.
- Private consumption is supported by ongoing employment gains.
- Moderation of growth includes temporary factors, weaker external trade, uncertainty.
- The broad-based expansion in global demand is expected to continue.
- The risks remain broadly balanced.
- Market volatility warrants monitoring.
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).
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