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%