Currency Analyst since 2010

EUR: Mario Draghi’s comments

Highlights of what Mario Draghi said to the European Parliament today:

-          Economic recovery in the euro area is losing momentum, and risks are on the downside.

-          Unemployment is unacceptably high.

-          TLTRO was within ECB expected range.

-          ECB has reached the lower bound on interest rates.

-          ECB is ready to take additional measures as needed.

No big announcements, but Draghi sounded rather pessimistic and cautious about the economy.


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