Highlights of the opening statement at the April 21, 2016 ECB press conference
- Repeats that purchases will run until at least March 2017
- Repeats that purchases will continue until sustained inflation
- Broad financing conditions have improved
- Global uncertainties persist
- Will monitor developments very closely
- It's crucial to avoid second round effects
- Will use all instruments if needed
Economic assessment:
- Q1 growth likely broadly similar to Q4 2015
- Expects recovery to proceed
- Cites softer exports
- Eurozone risks still tilted to the downside
- Outlook dampened by slow structural reforms
- Repeats inflation could turn negative soon
- Repeats that inflation will pick up later this year
- Notes better loan supply and demand, better conditions
The euro jumped after the comments about better loan and financial conditions. 1.1398 was the high.