Dovish statements from ECB president Mario Draghi send the euro tumbling again
The euro fell against the pound and the dollar last night, following European Central Bank (ECB) president Mario Draghi reiterating the dovish comments he made in October.
Speaking at a cultural event in Frankfurt, Draghi repeated that the ECB would review the degree of monetary stimulus required at the next governing council meeting in December, but is “willing and able to use all the instruments available”.
Growth prospects in emerging markets and “external factors” are dragging on the outlook for growth and inflation, he said.
Domestic demand remains “resilient”, however.
Last month, Draghi said the ECB would be better able to decide the level of stimulus needed once the latest inflation forecasts for the Eurozone came in.