Draghi speech: Time for exiting stimulus not yet here

Mario Draghi, President of the ECB, responds to questions from the press following his speech at the Tweede Kamer der Staten-Generaal, The Hague, 10 May 2017:

• Book losses on bonds bought under depo rate will be small for national central banks
• Budget impact of eventual exit from stimulus will not be a consideration for ECB
• Some elements of forward guidance meant to address tail risk of inflationary problem
• Tail risk is diminishing
• Ttime for exiting stimulus not yet here