Draghi press conference opening statement April 26, 2018:
- Has confidence inflation will converge with target
- Core inflation yet to show a convincing sign of upward trend
- Underlying inflation subdued
- Latest indicators suggest a moderation in the pace of growth since the start of the year
- Temporary factors could be at work in moderation
- Growth expected to remain solid and broad based
- Risks to outlook remain broadly balanced
- Risks to global factors have become more prominent, including trade
- Inflation likely to hover around 1.5% for the rest of the year
- Notes easing in bank lending conditions and higher demand for loans
- Other policy areas must contribute decisively
- Implementation of structural reforms needs to be substantially stepped up
- Full text of the opening statement
Some dovish stuff but he's mentioned the moderation before, so it's not a big surprise. EUR/USD still ticked to a fresh low below 1.2150 but it's snapped back to hit 1.2195 -- the best levels of the day.
Repeats (as expected):
"We continue to expect interest rates to remain at their present levels for an extended period of time, and well past the horizon of our net asset purchases."
