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Draghi speech: confident that the recovery momentum will continue going forward

Here are some key quotes from the ECB President Mario Draghi’s scheduled speech at the Frankfurt European Banking Congress:
 
   •  We have increasing confidence that the recovery is robust and that this momentum will continue going forward
   •  The signaling effect of asset purchases has therefore naturally increased in prominence relative to the duration effect
   •  Recovery therefore has not come against the backdrop of re-leveraging in any economic sector
   •  We see more signs that growth is “feeding on itself”
   •  Horizon of our net asset purchases, mechanically affect the time of the first expected rate hike
   •  As regards bank profitability, ECB research finds little evidence that our monetary policy is currently doing harm
   •  We are not yet at a point where the recovery of inflation can be self-sustained without our accommodative policy
   •  We do now see inflation moving steadily away from the very low levels of recent years

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