EUR Climbs as Draghi Praises Strengthening Recovery

June 27, 2017 Share Print 0

The European Central Bank (ECB) will have to be prudent to gradually adjust its monetary stimulus to the economic recovery, Mario Draghi, the president of the central bank, said Tuesday.

Speaking at the European Central Bank Forum in Sintra, Portugal, Draghi made it clear however that the current stimulus needs to remain in place as inflation dynamics remain “more muted than one would expect.”

“We can be confident that our policy is working and its full effects on inflation will gradually materialize. But for that, our policy needs to be persistent, and we need to be prudent in how we adjust its parameters to improving economic conditions,” Draghi said.

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Craig Erlam

Senior Market Analyst - UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a Market Analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.