Opening statement from Draghi

  • ECB will consider if negative rates need mitigating
  • Inflation likely to decline in coming months
  • Underlying inflation to increase over medium term
  • Underlying inflation continues to be muted
  • Ample degree of stimulus needed
  • Employment gains and wages underpin economy
  • Incoming data continue to be weak, especially in manufacturing
  • Effect of temporary factors to unwind
  • Uncertainties relating to geopolitics, protectionism, emerging markets leaving mark on sentiment

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