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Draghi not convinced inflation is picking up

EURUSD News by Allie Longford on 10:59 November 20, 2017 EST
Draghi testified on the European Systemic Risk Board before the European Parliament Economic and Monetary Affairs Committee, in Brussels on Monday afternoon.

The ECB chair says that underlying inflation pressures remain subdued as labour market slack remains significant and that ample degree of monetary stimulus is still necessary. Inflation dynamics have yet to show convincing signs of a self-sustained upward trend.

However he sees economic expansion remains solid, broad based across countries and sectors in the Euro area.

Eventually the Italian central banker expects job gains to push inflation to Target.

On Greece, he considers the implementation of Greek measures is bearing fruit and the improvement in economy is substantial.

Draghi warns on geopolitical risks and a market correction.