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Draghi Speech: No risk for central banks from digital currencies currently

The European Central Bank's President Mario Draghi is responding to questions from members of the European Parliament following his introductory statement at ECON Hearing of European Parliament in Brussels, with key quotes (via LiveSquawk & Reuters), found below.

Redistribution of purchases between programmes depend on market conditions, will continue.

PSPP operates in deepest market.

Digital currencies' use pretty limited.

No risk for central banks from digital currencies currently.

Digital currencies are development that should receive interest from central banks and supervisors.

With development of digital currencies, cyber-risk increasing.

Key notes

ECB policy remains appropriate, economy growing - ANZ.

Analysts at ANZ explained that, last week, the 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.

ECB Minutes to be of significant importance this week - BBH.

The ECB's meeting's October 26 meeting was more significant and the release of its minutes will be keenly watched by investors, according to analysts at BBH.  

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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