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ECB's Draghi: Difficult to say what impact geopolitical tensions have on European markets

FXStreet (Łódź) - During the Q&A part of the presser Draghi speaks about the risks stemming from the unrest in Ukraine and EU's sanctions against Russia, saying that there are few EU financial institutions that are specifically exposed to Russia.

• It's difficult to already assess the impact of the geopolitical tensions around the works on European markets, he adds however.

• Energy prices pose the greatest risk.

• Should the medium-term outlook change, ECB would implement QE, the ECB head signals.

• ECB will hire a consultant to advise on the ABS program.

• Banks expected to borrow 450 billion to 850 billion euros under TLRTO targeted lending program.

ECB's Draghi: CPI slowdown to 0.4% in July due to lower energy prices

The ECB head points out that Eurozone indicators have been volatile in Q2, following the 0.2% GDP increase in Q1and the Governing Council sees a “continued moderate and uneven recovery in the euro area economy”.
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