Euro is apparently knocked down by ECB President Mario Draghi’s downbeat comments. He told the European Parliament today that the Eurozone economy is weakening more than expected.
Thus, “a significant amount of monetary policy stimulus is still needed to support the further build-up of domestic price pressures and headline inflation developments over the medium term,”
Draghi added that “Our forward guidance on the key ECB interest rates, reinforced by the reinvestments of the sizeable stock of assets we have acquired, continues to provide the necessary degree of monetary accommodation.”
