ECB press conference: Highlights of Draghi's comments

The ECB has left its policy unchanged. We give the main comments of the ECB President Mario Draghi at a press conference.

Evaluation but not a policy discussion

"We didn't have to discuss the consequences of the risk balance. Today's meeting was mainly devoted to an assessment: where are we and why are we here, how long will the slowdown take place, will the slowdown worsen or will a lower level wait for us These are the questions that have been asked ".

Muffled inflation:
"General inflation is likely to continue to decline in the coming months. Core inflation remains generally subdued, but pressure on labor costs continues to increase and expand amid a high level of capacity utilization and toughening labor markets."

Mid-term inflation:
"Looking into the future, we expect core inflation to grow in the medium term, with the support of our monetary policy measures, continued economic growth, and rising wage growth."

The economic growth:
"The short-term growth momentum is likely to be weaker than previously thought. In the future, growth in the eurozone economy will continue to be supported by favorable financial conditions, further growth in employment and wages, lower energy prices and continued, albeit somewhat slower, expansion of global activity."

Stimulation:
"Significant monetary policy incentives remain necessary to support further increases in domestic price pressure and overall inflation in the medium term. The Board of Governors is ready to use all of its tools, depending on the situation, in order to ensure a constant movement of inflation towards the goal. "

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