Draghi answers questions after ECB meeting

Draghi answers questions after ECB meeting
  • In the coming years we will have a congestion of bank funding
  • ECB will announce full details of TLTRO in due time
  • We made four sets of decisions
  • We moved the calendar-based guidance to December from Sept
  • New measures are adding accommodation
  • Decisions were made following large downward revisions in forecasts
  • Decisions were unanimous, which I think is a very positive sign of our cohesiveness
  • We are in a period of continued weakness
  • Chances of eurozone recession are very low
  • Chances of inflation deanchoring is very low
  • ECB monetary policy is even more accommodative now
  • External factors continue to weigh on economy
  • ECB discussed changing forward guidance to March 2020