On July 20, a meeting of the Board of Governors of the European Central Bank took place, at which it was decided to maintain interest rates at the same levels. The parameters of the quantitative easing program of the European Central Bank also did not change.
After the end of the session, Mario Draghi answered questions at a press conference.
In his comments, Mario Draghi noted that the euro zone is experiencing stable economic growth. The risks are balanced. Low energy prices put pressure on inflation. Incentives are still needed to accelerate consumer price growth. The process of global economic recovery will have a positive impact on exports from the Eurozone.
Mario Draghi also reported that the issue of QE program completion was not discussed at the last meeting. It may be relevant at the September meeting. The economy in the euro zone is actively recovering. Now it is necessary to wait for the growth rates of wages and consumer prices to approach the target values. Says the head of the ECB.
The euro rose by 0.5 percent during the press conference broadcast. According to experts, this is how the market reacted to Draghi’s words about possible discussion of QE program prospects at the meeting of the ECB Board of Governors in September.