ECB Press Conference Soundbites

Mario Draghi signals the central bank is not ready to taper stimulus yet. While he sees some positive signs of growth, inflation pressure remains subdued and the bank lowers 2018 and 2019 inflation forecasts.

The comments should not cause big moves in markets (€1.1228) because his tone basically matches media reports yesterday.

The US 10-year yield is +2.195% vs 2.18% yesterday.

  • Didn’t Discuss Exit Strategy
  • Recovery Happening with Strong Creation of New Jobs
  • Evidence That Many New Jobs Are Low-Quality Jobs
  • Structural Reforms Tend to Produce Lower Wage Growth
  • Draghi: We Need to Be Patient
  • Labor Market Slack Is Tightening, Output Gap Closing
  • ECB cuts inflation forecasts, 2018 more than expected to 1.3%, nudges up GDP
  • Deflation Risk Are Not There Any More
  • Uncertainty About Inflation Path Decreased
  • The ECB Will Be In the Market For a Long Time
  • No Discussion of Policy Normalization
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    Dean Popplewell

    Dean Popplewell

    Vice-President of Market Analysis at MarketPulse
    Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
    Dean Popplewell