Draghi speech: Labour cost pressures have strengthened

Following the European Central Bank's expected decision to keep the benchmark interest rate steady at 0%, Mario Draghi, President of the ECB, is delivering his remarks on the bank's policy outlook in a press conference with key quotes, via Reuters, found below.

"Risks around growth outlook tilted to the downside."

"Inflation likely to decline in coming months."

"Inflation likely to rise again towards end of the year."

"Underlying inflation muted."

"Labour cost pressures have strengthened."

"Pass-through to cost pressures taking longer than previously expected."

About Mario Draghi

The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. As part of his job in the Governing Council he gives press conferences in the back of how the ECB observes the current European economy. President's comments may determine positive or negative the Euro's trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).