ECB Head Mario Draghi delivered a speech at the European Parliament (25.09.2017)

Mario Draghi, Head of the European Central Bank, announced in his speech to the European Parliament that the ECB intends to pay special attention to the dynamics of the euro exchange rate. This is due to the fact that the high volatility of the single currency is a factor of uncertainty and complicates the process of estimating the inflation rate.

In Mario Draghi’s words, the decision to reconfigure the bank’s policy instruments must be made with due regard to the need to maintain monetary support. The block economy still needs it.

European Central Bank is confident that inflation in the euro zone is moving in the right direction and will reach the target. However, the volatility of the euro needs to be controlled. Since April this year, the single European currency rate has risen by almost 14%. Such a significant growth affected the cost of the consumer basket.

Mario Draghi also noted that the economy in the region is developing steadily. This applies to both individual block countries and industries.

The nearest meeting of the European Central Bank will be held on October 26. Market participants are expecting information from ECB about changes in the asset buyback program. On Friday, September 29th, the Eurozone inflation data will be published.