Draghi Explains The ECB Rate Cut

mario draghi ecb president speaks to european parliament

European Central Bank President Mario Draghi explained the Bank’s latest decision to cut its target interest rate to 0.75 per cent in a press conference at 8:30 AM ET.

While we’re weren’t likely to hear about any game-changing non-standard monetary policy measures at the meeting, the meeting evidently didn’t convince markets that the ECB will come to the rescue.

European equities fell sharply while the meeting was going on.

Watch the press conference here.

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