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"We have our responsibility, we have our mandate," European Central Bank Governor Mario Draghi said Tuesday at the annual BSE conference in Sintra, Portugal, CNBC said.
– Our mandate is price stability defined as an inflation rate close to but less than 2% in the medium term.
He reiterated that the Eurozone Central Bank was ready to use all means necessary to fulfill its mandate.
– And we do not focus on the exchange rate, says Draghi.
According to CNBC, the statement was applauded in the room.
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These are the European stocks most affected by the tensions between the United States and China.
Trump annoyed
US President Donald Trump was released on Twitter after the weakening of the euro against the dollar following the speech delivered earlier in the day by BSE chief Mario Draghi.
Trump pointed out that the governor had announced more economic stimulus measures and that the euro was immediately weakened against the dollar.
The euro was weakened by 0.2% against the dollar a few minutes after the speech. There he stayed until a little after 18:30, at $ 1,111.
The US president has ruled it unfair that it is easier for the eurozone to compete with the United States because of the weakening of the euro.
"They've been doing it for years, with China and others," Trump writes.
Mr Draghi said that it was still possible to further reduce interest rates or take other measures in the euro area if the economic situation did not improve and that the inflation target was threatened.
Inventory growth
Stock markets gained momentum after Draghi's statements – European stock markets rose, as did US futures.
The stock markets have made new hope when US President Donald Trump on Twitter has confirmed that he will meet his Chinese counterpart Xi Jinping at the G20 meeting next week in Japan.
Shortly after, the President of the United States tweeted the rise of the Dax index in Frankfurt and attributed the comment on the stimulus of the Draghi Elevator:
– Very unfair to the United States!
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