ECB's Draghi Says That Downside Risks Continue Despite Signs Of stabilisation

mario draghi ecb press conference

European Central Bank President Mario Draghi spoke live from Frankfurt, Germany, about the central bank’s decision to hold rates steady today and other facets of its monetary policy.

Here are the issues we were scrutinizing:

  • The second three-year long-term refinancing operation is scheduled for February 29, however there are as of yet no plans to continue the program beyond this date. We’ll be looking for hints that more LTROs are ahead.
  • Draghi’s assessment of the durability of the LTRO’s effects. That includes the direction of risks to price stability and growth.
  • The ECB’s willingness to take the pressure of EU leaders. Will they continue to act without market pressure?
  • Discussion of the ECB’s involvement in the Greek bailout.

A live stream of the press conference was available here.

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