Comments from ECB President Mario Draghi at EU Parliament:

  • Recovery is losing momentum
  • Unemployment is unacceptably high
  • Risks to eurozone recovery are clearly on the downside

The euro is paring its gains down to 1.2844.

  • TLTRO was within ECB expected range
  • ECB has reached the lower bound on interest rates
  • ECB will closely monitor risks to price development

More on asset buying:

  • ABS stock will grow because of ECB buying
  • ECB will only buy senior and guaranteed mezzanine tranches
  • We stand ready to take additional measures as needed
  • Success of ECB measures depends on others’ action
Draghi 2