Comments from the ECB president in a preface to the latest Annual Report published earlier
"We recalibrated our policy at the end of the year due to new headwinds from the global economy, which tilted the inflation outlook to the downside. Those headwinds intensified in early 2016, requiring a further expansion of our policy stance. In March 2016 the Governing Council decided to expand the APP in both size and composition (including for the first time corporate bonds), to cut the deposit facility rate further, to introduce a new series of targeted longer-term refinancing operations with powerful incentives for banks to lend, and to strengthen its forward guidance. These decisions reaffirmed that, even when faced with global disinflationary forces, the ECB does not surrender to excessively low inflation.
"2016 will be a no less challenging year for the ECB. We face uncertainty about the outlook for the global economy. We face continued disinflationary forces. And we face questions about the direction of Europe and its resilience to new shocks. In that environment, our commitment to our mandate will continue to be an anchor of confidence for the people of Europe."
Nothing from Mr D that we didn't already know.
Full report here
Draghi is potentially over the wires later but ECB doesn't mention specific timings. Thursday, 07 Apr 2016 Board member:Mario Draghi Event:Participation by the President in a meeting at the Council of State in Lisbon, Portugal
Draghi rocking and roiling through the murky financial climate
