ECB President Sees Encouraging Signs in UK Economy

Mr Draghi pointed to three of the weaker eurozone economies – Ireland, Spain and Portugal – saying they had made “impressive” improvements in their export performances.

He said that bank lending remained “anaemic” but that, too was improving for businesses and households.

He was speaking on a visit to London.

Despite his mildly upbeat tone, Mr Draghi’s ECB this month cut eurozone interest rates to a record low and latest figures show most of the eurozone economies are shrinking.

Even Germany, the strongest, barely experienced any growth in the first three months of this year.

Despite the cut, the euro as a currency has remained steady and Mr Draghi said the markets were “fully confident that the euro is a strong and stable currency”.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza