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ECB President Mario Draghi speaks in Frankfurt
- The ECB does not lack instruments to fulfill its mandate
- The domestic economy remained relatively resilient
- A soft patch does not suggest a serious slowdown
- Adjust rate forecasts if there were delays in the convergence of inflation
- If the economy slows more than expected, the risks for wage growth could be contained
- The effects of the exchange rate appreciation have reversed
- Demand is expected to recover as downside risks do not materialize
- Remain confident that the sustained convergence of inflation on the target has been delayed rather than derailed
ForexLive
Much has already been said at the ECB meeting / press conference earlier this month, but he seems a little more optimistic by mentioning the resistance of the economy and saying that they remain confident to achieve their inflation goal.
That said, there are still many challenges to overcome and that will usually keep their hands tied. The EUR / USD has reduced its previous losses from 1.1250 to 1.1265 currently.
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