Sunday, 24 October 2021

Draghi comments at ECB press conference

FRANKFURT: The European Central Bank approved a fresh stimulus package as expected on Thursday, cutting interest rates and approving a new round of bond purchases to prop up euro zone growth and halt a worrisome drop in inflation expectations.

Following are highlights of ECB President Mario Draghi’s comments at a press conference after the bank’s policy meeting.


“… This baseline scenario is also relatively favourable. Because it doesn’t contain the case of a hard Brexit, for example, the probability of which has gone up over recent time.

“And it doesn’t contain some of the trade measures, trade escalation, at least, some of the trade escalation that has taken place since August. So in this – with this relatively favourable baseline scenario, there was a downgrade in inflation and inflation expectations. And so that is over the whole horizon. And that is what prompted the measures we have taken.”

Check Also

Cryptocurrencies tumble amid China crackdown

REUTERS/Dado Ruvic/Illustration/File Photo TOKYO – Cryptocurrencies tumbled on Monday as China’s crackdown on bitcoin mining ...

Leave a Reply