Draghi highlights

  • Economy expanded more than expected in the first half of 2017
  • Underlying inflation pressures remain subdued
  • Inflation to rise gradually toward ECB goal
  • A very substantial degree of accommodation still needed
  • Medium term outlook largely unchanged
  • This autumn we will decide on monetary policy calibration beyond 2017
  • Survey data points to continued broad based growth in the period ahead
  • Full text

Draghi tried some jawboning but the market is betting on the growth scenarios.