Opening statement from Draghi
- ECB will consider if negative rates need mitigating
- Inflation likely to decline in coming months
- Underlying inflation to increase over medium term
- Underlying inflation continues to be muted
- Ample degree of stimulus needed
- Employment gains and wages underpin economy
- Incoming data continue to be weak, especially in manufacturing
- Effect of temporary factors to unwind
- Uncertainties relating to geopolitics, protectionism, emerging markets leaving mark on sentiment
- Some domestic factors dampening growth are starting to fade
- Full text of the opening statement
EUR/USD has given up all its gains in a fall to 1.1264 from 1.1280 at the start of the press conference.
