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ECB press-conference: key points

  • ECB left monetary policy unchanged at 0.05% in April;
  • QE proceeding smoothly (60B euros per month) and proves to be effective; purchases intended to run until Sept. 2016;
  • ECB stimulus needs to be fully implemented to work;
  • Draghi sounds rather optimistic on the economy;
  • Financial market conditions improved;
  • Improved borrowing conditions lift borrowing activity of firms and households;
  • Euro zone's exports are becoming more competitive due to the weak euro;
  • Lower oil supports the domestic demand;
  • Economic recovery to broaden and strengthen;
  • Inflation is expected to pick up later in year;
  • ECB won't expand QE in case if inflations unexpectedly dips. All the pullbacks will be seen as temporaly.

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