Draghi speech: We still see risk of recession being pretty low

Following the European Central Bank's expected decision to keep the benchmark interest rate steady at 0%, Mario Draghi, President of the ECB, is responding to questions from the press with key quotes, via Reuters, found below.

"Experience of other central banks in tiering will be an important element in design."

"There was no discussion about the size of a rate cut."

"We still see risk of a recession being pretty low."

"We still see signs of resilience in the labour market."

"If there were significant worsening in euro area, significant fiscal policy becomes of essence."

About Mario Draghi

The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. As part of his job in the Governing Council he gives press conferences in the back of how the ECB observes the current European economy. President's comments may determine positive or negative the Euro's trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).