All the day’s economic and financial news, including rolling coverage of the European Central Bank’s monetary policy meeting
- President Mario Draghi is giving a press conference now
- No change from the ECB
- No stimulus taper today
- UK retail sales up by 0.6% in June
- But consumer spending likely to remain subdued
- Bank of Japan pushes back inflation target (again)
The governing council trusts the strength and the power of its monetary package in all its elements, says Draghi firmly. We still stay in the market for a long time, he adds.
Is he channelling Darth Vader?!
*DRAGHI SAYS ECB TRUSTS STRENGTH, POWER OF POLICY PACKAGE pic.twitter.com/7cAoIzGGh8
Q: You sound more dovish on inflation than in your speech in Sintra last month, so how do you see inflation rising to the ECB’s target?
Draghi insists that there’s little difference between today’s statement, and the Sintra speech (when he said that inflationary pressures had replaced deflationary ones).