The President of the European Central Bank (ECB), Mario Draghi, stepped into the spotlight again on Monday, as he testified in front of European policymakers amid renewed concerns of deflation and questions regarding the effectiveness of his policies.
“The economic recovery in the euro areas is losing momentum,” Draghi told the Committee on Economic and Monetary Affairs. “The early information on economic conditions which we received over the summer has been somewhat weaker than expected.”
He also defended the take-up of the ECB’s latest cheap loan program, dubbed TLTRO or targeted longer-term refinancing operation. Last Thursday, the ECB doled out 82.6 billion euros ($106 billion) in loans to banks—an amount which was viewed as disappointingly low by markets.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015