Draghi’s speech: We have continued confidence with increasing caution

Following are the comments by the ECB President, as he responds to the Q &A session.

Monetary policy is very accommodative.

The drivers of the economic recovery are still in place, consumption continues to grow, driven by increases in disposable income.

Business investment continues to grow, residential investment is robust.

External demand has gone down but still grows.

It's not just a one-off, it's been weaker for a while.

We ask ourselves, how weak is this? Some factors are transient but there are some factors that are more-permanent.