video Video
ECB: Draghi gives few clues over future policy
Thursday, October 20, 2016 - 01:51
The European Central Bank has kept interest rates on hold at historic lows. But, as David Pollard reports, its president, Mario Draghi, gave few hints as to what measures the Bank could take later this year.
▲ Hide Transcript
▶ View Transcript
Most economists expect the ECB to extend its asset purchase programme when it meets in December. But if that is the intention, Mario Draghi gave few clues away at this week's meeting - despite repeated attempts to get them. SOUNDBITE (English) JOURNALIST ASKING: "Has there been any discussion today about a change in policy and specifically whether you might want to extend the QE programme? SOUNDBITE (English) MARIO DRAGHI, ECB PRESIDENT, SAYING: "The answer to the second question is no, there was no discussion .... We didn't discuss tapering or the intended horizon, and here comes the second question, of our asset purchase programme." ECB monetary policymakers will be armed with their latest projections in December - and better able to make a decision, he said. Right now, inflation is at 0.4 per cent - the highest in 2 years - and should go higher. Growth is on a 'moderate but steady' path. But the ECB is still primed. SOUNDBITE (English) MARIO DRAGHI, ECB PRESIDENT, SAYING: "We remain committed to preserving the very substantial degree of monetary accommodation ... We will continue to act, if warranted, by using all the instruments available within our mandate." Economists say there could still a case for action. Draghi himself describing the risks to the outlook as tilted to the downside. SOUNDBITE (English) CHIEF ECONOMIST, WORLD FIRST, JEREMY COOK, SAYING: "It's difficult to get excited about inflation measures at the moment in the euro zone given the fact growth simply isn't strong enough to meaningfully create and reliably create inflation moving forward." But the latest ECB narrative did appear to confuse markets - at least momentarily. The euro bouncing up from a three-month low by half a per cent against the dollar ... Before then settling back again to a four-month low.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code
ECB: Draghi gives few clues over future policy
Thursday, October 20, 2016 - 01:51
Top News »
2:33pm BST - (1:24)
2:06pm BST - (1:55)
2:26am BST - (1:29)
Mon, 23 Apr, 2018 - (0:56)
Mon, 23 Apr, 2018 - (0:52)
Mon, 23 Apr, 2018 - (1:12)
Mon, 23 Apr, 2018 - (1:56)
Mon, 23 Apr, 2018 - (0:45)
Sun, 22 Apr, 2018 - (1:06)
Sat, 21 Apr, 2018 - (2:00)
Sat, 21 Apr, 2018 - (1:58)
Sat, 21 Apr, 2018 - (1:03)
Editors' Picks »
1:14pm BST - (2:00)
10:00am BST - (1:36)
Fri, 20 Apr, 2018 - (1:24)
Fri, 20 Apr, 2018 - (2:04)
Thu, 19 Apr, 2018 - (0:57)
Thu, 19 Apr, 2018 - (1:45)
Tue, 17 Apr, 2018 - (2:44)
Tue, 17 Apr, 2018 - (2:15)
Mon, 16 Apr, 2018 - (1:59)
Most Popular »
Wed, 08 Mar, 2017 - (1:31)
Tue, 16 Aug, 2016 - (0:57)
Sat, 16 Jan, 2016 - (1:21)
Business »
5:17pm BST - (2:24)
5:12pm BST - (1:09)
2:26pm BST - (1:50)
2:26pm BST - (1:32)
1:28pm BST - (1:13)
1:28pm BST - (1:46)
1:27pm BST - (1:39)
12:06am BST - (1:27)
Mon, 23 Apr, 2018 - (1:22)
Mon, 23 Apr, 2018 - (0:47)
Mon, 23 Apr, 2018 - (5:43)
Mon, 23 Apr, 2018 - (1:22)
Featured Videos
UK royals Kate and William have baby boy
It's a boy. Britain's Duchess of Cambridge has given birth to her third child, and second son, with husband Prince William
Aussie pilot Hall soars to victory in Cannes
Australian pilot Matt Hall claims victory in the second leg of the Red Bull Air Race world championship in Cannes, France
Luxury liner Queen Elizabeth II reopens as floating hotel
One of the world's most famous ships is now a floating hotel permanently moored at Dubai's Mina Rashid port
World Toad in the Hole Championships
The aim of the traditional pub game originating from France is to land as many large brass coins or 'toads' in a table's small hole
Tarantula burgers on the menu
For adventurous diners, tarantula topped burgers are available at a Durham, North Carolina restaurant as part of its ‘exotic meat’ month
Technology »
2:06pm BST - (1:48)
Mon, 23 Apr, 2018 - (1:55)
Sun, 22 Apr, 2018 - (1:30)
Fri, 20 Apr, 2018 - (1:50)
Thu, 19 Apr, 2018 - (1:54)
Thu, 19 Apr, 2018 - (0:46)
Wed, 18 Apr, 2018 - (1:03)
Wed, 18 Apr, 2018 - (1:01)
Wed, 18 Apr, 2018 - (1:35)
Entertainment »
4:42pm BST - (1:38)
3:53pm BST - (1:51)
11:40am BST - (1:18)
10:06am BST - (1:25)
8:16am BST - (2:02)
Mon, 23 Apr, 2018 - (1:28)
Mon, 23 Apr, 2018 - (1:39)
Mon, 23 Apr, 2018 - (2:11)
Mon, 23 Apr, 2018 - (1:50)
Mon, 23 Apr, 2018 - (0:39)
Sports And Leisure »
9:59am BST - (0:47)
Mon, 23 Apr, 2018 - (1:17)
Mon, 23 Apr, 2018 - (2:38)
Mon, 23 Apr, 2018 - (1:27)
Mon, 23 Apr, 2018 - (1:17)
Mon, 23 Apr, 2018 - (1:30)
Mon, 23 Apr, 2018 - (1:40)
Mon, 23 Apr, 2018 - (1:07)
Fri, 20 Apr, 2018 - (1:08)
Thu, 19 Apr, 2018 - (2:22)
Oddly Enough »
Mon, 23 Apr, 2018 - (0:45)
Fri, 20 Apr, 2018 - (1:00)
Fri, 20 Apr, 2018 - (1:27)
Thu, 19 Apr, 2018 - (0:53)
Thu, 19 Apr, 2018 - (0:53)
Tue, 17 Apr, 2018 - (1:33)
Tue, 17 Apr, 2018 - (1:27)
Thu, 12 Apr, 2018 - (0:49)
Dateline Asia »
Tue, 05 Dec, 2017 - (2:06)
Tue, 05 Dec, 2017 - (2:11)
Fri, 01 Dec, 2017 - (2:04)
Thu, 30 Nov, 2017 - (2:10)
Thu, 30 Nov, 2017 - (2:14)
Wed, 29 Nov, 2017 - (2:11)
Tue, 28 Nov, 2017 - (1:55)
Tue, 28 Nov, 2017 - (2:21)
Mon, 27 Nov, 2017 - (2:25)
Fri, 24 Nov, 2017 - (2:16)
Fri, 24 Nov, 2017 - (2:14)
Thu, 23 Nov, 2017 - (2:18)