Comments from Draghi:
- Global headwinds continue to weigh
- The ECB is determined to act in case of adverse contingencies
- ECB ready to adjust all instruments
- Incoming data point to somewhat weaker growth in Q2 and Q3, reflecting ongoing weakness in international trade
- Construction is showing resilience and labour market is continue to improve
- Risks remain tilted to the downside
- Wage pressures continue to rise
- Cross-check confirms an ample degree of monetary accommodation necessary
- All countries should push for more growth-friendly policies
- Must raise long-term growth potential
GDP forecasts:
- 2.1% in 2019 (vs 2.0%)
- 1.4% in 2020 (vs 1.6%)
- 1.4% in 2021 (vs 1.5%)
The euro hit a fresh high of the day on Draghi's opening statement
