Opening statement from Mario Draghi following the latest monetary policy meeting 25 January 2018
- Domestic price pressures remain muted overall
- Failed to show convincing sings of a sustained inflation pick up
- FX moves require monitoring
- FX moves create uncertainty
If the market was looking for strong verbals, this ain’t it. EURUSD has jumped to the highs again.
- Headline inflation likely to hover around current levels in coming months
- Underlying inflation likely to rise gradually over medium term due to ECB policies etc etc
High has now gone in EURUSD after he moves on to the monetary conditions guff of the statement. 1.2473 the new high. It’s going to come down to the Q&A, whether he says anything stronger. If not, 1.25 here we come.
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