Another ECB Bullet? Markets to Scour Draghi Speech

European Central Bank (ECB) President Mario Draghi will speak before the European Parliament on Monday and his testimony will be scrutinized for hints that the central bank will expand monetary stimulus when it meets in March.

The regular hearing will take place at 3 p.m. local time (9 a.m. ET) in Brussels, at which Draghi will speak before answering questions from the Parliament’s Committee on Economic and Monetary Affairs.

The 68-year-old Italian economist dropped hints about further stimulus measures after the ECB’s January policy meeting, at which no changes were announced.

“It will (therefore) be necessary to review and possibly reconsider our monetary policy stance at our next meeting in March,” he told reporters at his regular media conference last month.

Subsequent economic data has been mixed, creating uncertainty as to the ECB’S next move — and giving particular importance to Draghi’s words on Monday.


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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.