ECB’s Draghi: International trade is main reason for slowdown

According to Reuters, European Central Bank President Mario Draghi told EU leaders at this week's summit that the international trade was the main reason for the economic slowdown in the euro area.

Key quotes (via Reuters)
- ECB sees protracted weakness, pervasive uncertainty in eurozone economy.
- Risks of recession still quite low.
- Sees substantial degree of monetary policy accommodation as needed.
- Aggregate consequences from Brexit on eurozone are small.
- Central banks are prepared for Brexit, private sector needs to step up preparation.

Eren Sengezer FXStreet

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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