Highlights from Draghi's opening statement

  • The latest data has stabilized and is in line with forecasts
  • Latest data points to ongoing growth
  • Private consumption is supported by ongoing labor market gains
  • Risks to the growth outlook remain broadly balanced
  • Global uncertainty and the threat of protectionism are prominent
  • Risk of financial market volatility remains high
  • Underlying inflation remains muted but to rise gradually in medium term
  • Ample degree of monetary policy still needed (guidance unchanged)
  • Ongoing growth an opportunity to rebuild fiscal buffers
  • Full text

The inflation note has given the euro a small lift.