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 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.