Draghi speech: We were unanimous in acknowledging weaker momentum, changing balance of risk
Mario Draghi, President of the ECB, is now responding to questions from the press with key quotes, via Reuters, found below.
- Labour market performance is strong.
- There's a profit squeeze, matter of time before higher wages are passed through.
- We were unanimous in acknowledging weaker momentum, changing balance of risk.
- Were unanimous in assessing factors causing slowdown.
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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.
