Mario Draghi, President of the ECB, is responding to questions from the press, providing the key quotes, via Reuters, found below.
- Assessment of the Council: doesn't want to underplay risks.
- Softer patch is foreseen to extend into 2nd quarter in some countries.
- Volatility in Italy is one risk and is less than it was 2 weeks ago.
- We expect positive surprises in growth from fiscal expansion in the eurozone.
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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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