Draghi speech: ECB sees 2018 inflation at 1.4% vs 1.2% seen in September.

Mario Draghi, President of the ECB, is delivering his remarks on the monetary policy following the banks widely expected decision to leave the interest rates and the QE unchanged, with key quotes (via Reuters) found below.

ECB sees 2017 inflation at 1.5% vs. 1.5% seen in September.

ECB sees 2018 inflation at 1.4% vs 1.2% seen in September.

ECB sees 2019 Inflation at 1.5% vs 1.5% seen in September.

ECB sees 2020 inflation at 1.7%.

ECB sees 2017 GDP growth at 2.4% vs. 2.2% seen in September.

ECB sees 2018 GDP growth at 2.3% vs 1.8% seen in September.

Key notes

EUR/USD sticks to modest gains above 1.1800 handle after ECB.

The EUR/USD pair reversed an early European session dip to the 1.1800 neighborhood but struggled to gain any follow through traction post-ECB announcement.

ECB leaves interest rates and QE unchanged.

At its monetary policy meeting held today, the Governing Council of the European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.40% respectively.

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).