Draghi Q&A: The output gap will close in 2018
Draghi continues to answer questions
- The design of the QE program was not discussed today
- The economic recovery is more advanced in the US than in Europe, especially relating to wages
- 'Vast majority' of ECB wants open-ended asset purchases
The euro is at the lows of the day, which is surely what Draghi was hoping for.
- Losses from corporate-debt programs are not unusual, but have been 'exaggerated'
- Likelihood of economic downturn very, very small