Comments from Draghi at European parliament:
- Eurozone growth momentum weakened over summer
- Risks to outlook continue to downside
- Expectations for moderate recovery remain in place
- EONIA not expected to exceed 0.25 bps into well into 2018
- More time needed to see effects of recent stimulus
- ECB must be alert on downside inflation risks
- Early signs credit package delivering results
- Additional measures could include further changes to size and composition to balance sheet, if warranted
- Monetary and fiscal policy not effective unless companies find reasons to invest
Mario Draghi Nov 17 2015
The euro is under some pressure as the comments cross, down to 1.2472 from 1.2500. There isn’t much support in the short term.
