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Draghi Speech: Economic expansion remains solid and broad-based in the euro area

The European Central Bank's President Mario Draghi is delivering his prepared remarks at ECON Hearing of European Parliament in Brussels, Belgium, with key quotes (via Reuters), found below.

Economic expansion remains solid and broad-based across countries and sectors in the euro area.

Business investment also remains on an upswing, aided by improvements in corporate profitability.

The “well past” condition that governs the policy rate horizon lays out a critical enabling factor for asset purchases to have their full impact.

Key notes

Draghi: Positive outlook for the euro area economy - ANZ.

Last week ECB President Draghi reiterated the positive outlook for the euro area economy citing deleveraging, increasingly endogenous growth and signs that the economy is becoming more resilient to shocks, as positive factors for the outlook, explains the research team at ANZ.

EUR/USD fails to build on recovery beyond 1.18 handle.

The EUR/USD pair failed to build on the early European session bullish spike and has now retreated around 30-35 pips from session tops.

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)”.

 

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