ECB's Draghi: A very substantial degree of monetary accommodation is still needed

Mario Draghi, the president of the ECB, is crossing the wires, reiterating that a very substantial degree of monetary accommodation was still needed.

Key quotes:

  • The euro area’s economic expansion, supported by the ECB's monetary policy measures, continues to be firm and broad-based
  • Measures of underlying inflation, however, have yet to show convincing signs of a sustained upward trend
  • There are no indications of widespread asset price misalignments and credit developments remain modest
  • Headline inflation has increased largely reflecting energy and food inflation
  • Asset purchase programme, at current monthly pace of eur60 bln, is intended to run until end-dec 2017, or beyond
  • Progress towards durable, self-sustaining convergence of inflation towards 2% target not yet convincing

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

RELATED TOPICS