Draghi speech: Probability of recession still small but went up

Eren Sengezer FXStreet

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 now responding to questions from the press with key quotes, via Reuters, found below.

"Next president will carry out a strategic review, including the target."

"All G20 members to abide by consensus on no competitive devaluation."

"Probability of recession still small but went up."

"Risk of german recession calls for action on the fiscal side."

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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