Draghi Speech: Won't comment on market reactions

Eren Sengezer FXStreet

Mario Draghi, President of the ECB, is responding to questions from the press, with key headlines, via Reuters, found below.

Won't comment on market reactions.
Inflation not where it should be.
After a long time, experiencing robust recovery and only have to wait for prices and wages to move to objective.
Last thing ECB wants is unwarranted tightening of financial conditions.
Has given enough evidence that it has the necessary flexibility.

Key notes:

No rush to taper as ECB keeps QE easing bias - ING.

According to the latest monetary policy decision, the ECB is staying on the dovish side and does not seem to be in a hurry to move towards tapering, notes Carsten Brzeski, Chief Economist at ING.

EUR/GBP at daily tops near 0.8900 as ECB presser gets underway.

The EUR/GBP cross once again met with some fresh supply near the 0.8900 handle and retreated around 30-pips post-ECB announcement. As the ECB presser got underway, the cross quickly spiked back to session tops, albeit remained marginally below the 0.8900 handle.

ECB summary

Following the ECB´s economic policy decision, the ECB President gives a press conference regarding monetary policy. His comments may influence the volatility of EUR and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the EUR, whereas his dovish view is considered 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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