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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ECB leaves benchmark interest rate unchanged, as expected.
At its first meeting of 2019, the Governing Council of the European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.40%, respectively.
EUR/USD depressed around 1.1350 on steady ECB.
The single currency keeps the offered tone so far today, with EUR/USD navigating the mid-1.1300s in the wake of the ECB decision on rates.
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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