Comments from ECB President Mario Draghi at EU Parliament:
- Recovery is losing momentum
- Unemployment is unacceptably high
- Risks to eurozone recovery are clearly on the downside
The euro is paring its gains down to 1.2844.
- TLTRO was within ECB expected range
- ECB has reached the lower bound on interest rates
- ECB will closely monitor risks to price development
More on asset buying:
- ABS stock will grow because of ECB buying
- ECB will only buy senior and guaranteed mezzanine tranches
- We stand ready to take additional measures as needed
- Success of ECB measures depends on others’ action
