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ECB Draghi's press conference

EUR/USD pushed above the $1.3800 mark on better 2014 GDP forecast and no mention of other easing measures.

Here are the key points of Draghi's press conference:

  • Economy is on the right track
  • Upside and downside risks to the inflation outlook are broadly balanced over the medium term.
  • Economic and inflation risks remain to the downside
  • Key rates to be held at or below current levels for “extended period of time”, ready to act if needed

ECB 2014-2016 forecasts


  • 2014 GDP forecast revised up from 1.1% to 1.2%
  • 2015 GDP growth forecast unchanged at +1.5%, 2016 GDP growth forecast unchanged at +1.8%


  • 2014 inflation forecast: 1% vs 1.1%
  • 2015 inflation forecast unchanged at 1.3%; 2016 inflation forecast unchanged at 1.5%

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