Former ECB Head Draghi: Central banks must be ready to use all tools in their mandate

Dhwani Mehta FXStreet

Former European Central Bank (ECB) President Mario Draghi was on the wires last minutes, speaking at the ECB conference, where the current President Lagarde delivered the opening remarks but made no comments on monetary policy or economic outlook.

Market prices are a mirror of policy stance.

Central banks must be ready to use all tools in their mandate.

Lagarde just said: "OMT is there, but was never used. Yet was validated by the courts. So if the lawyers are happy with it, we should all be happy."

Meanwhile, EUR/USD stays undeterred below 1.1150 so far this Wednesday, having bounced-off fresh two-day lows of 1.1127.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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