Draghi speech: Projections see further downgrade of inflation outlook

Following the European Central Bank's (ECB) decision to lower its rate on the deposit facility by -10 basis points to -0.5% and start a monthly open-ended asset purchases of €20 billion, Mario Draghi, President of the ECB, is delivering his remarks on the considerations underlying these decisions at with key quotes, via Reuters, found below.

"We conducted a thorough assessment."

"Need for highly accommodative stance continues."

"We stand ready to adjust all instruments."

"Incoming data since July meeting indicates more protracted weakness."

"We see the persistence of downside risks."

"Projections see further downgrade of the inflation outlook."

"Incoming data point to moderate but positive growth in Q3."

About Mario Draghi

The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. As part of his job in the Governing Council he gives press conferences in the back of how the ECB observes the current European economy. President's comments may determine positive or negative the Euro's trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).