Draghi Faced Nowotny Plea to Discuss ECB Policy

EUR/USD Exchange Rate Declines as German Confidence Scores Fall below Forecasts

While his position was shared by a few others, most policy makers deferred to the president to determine when to examine the topic, they said.

Draghi said risks related to the threat of protectionism had become "more prominent" but stressed the bank was confident that it was on the right track towards gradually weaning the economy off an unprecedented period of stimulus.

In the press conference Mario Draghi announced the governing council's message was for "caution tempered by an unchanged confidence that inflation will converge to our inflation target over the medium-term but that confidence is conditional on an accommodative monetary policy framework being in place". The marginal lending facility rate is 0.25 percent.

If growth slows significantly, the central bank could face pressure to extend its 30 billion euros ($36 billion) in bond purchases.

Business sentiment has already taken a hit, particularly in export-focused Germany, and a full-fledged trade war could quickly hurt growth - a risk already highlighted by policymakers at the ECB's March meeting.

The main refi rate is now at a record low zero percent and the deposit rate at -0.40 percent. Instead, analysts expect the European Central Bank to delay a final decision over its stimulus settings until meetings in either June or July.

Amit Shah mocks Congress' 'Save the Constitution' campaign
Loya, who was hearing the Sohrabuddin Sheikh fake encounter case in which BJP chief Amit Shah was an accused. The court had on Thursday dismissed petitions seeking a probe into the death of special CBI judge B.H.

Only two more meetings remain before September.

"Over the coming months we'll see a reduction in bond buying and it's likely that interest rates will remain unchanged until the end of the year as Draghi takes the time to wait and see how growth picks up".

Weaker-than-expected economic data out of the euro zone has raised question marks about that, but policymakers remained comfortable with the policy path priced in by investors, the sources said. This, in turn, could have ramifications for the ECB's sole policy objective of ensuring price growth returns to its near 2 percent target.

Nonetheless, the euro's recent strength has had a relatively limited impact in recent weeks.

Even if the currency impact were to bite, the European Central Bank has little scope to extend purchases much longer, suggesting it will take an extremely cautious approach to normalising policy, even if it risks erring on the side of caution and moving too late.

Related news:

Hot News

isis-killer-beheading-video-story-top Experts say Trump's 'Fox & Friends' interview was ill-advised
Apr 27, 2018 - 00:55
Saying he was "very disappointed in my Justice Department ", Trump left the door open to changing his mind. Trump's lawyer, Joanna Hendon, said the president is willing to get involved personally in the review.

isis-killer-beheading-video-story-top Apple doubles OLED orders from Samsung, but there's a catch
Apr 26, 2018 - 12:51
If the LCD model is $200 cheaper than the OLED models, it will be due to certain cost-cutting measures, the report adds. A recent report suggested that Samsung is already ramping up to start OLED panel production early.

isis-killer-beheading-video-story-top OPCW investigators visit 2nd site in Douma, Syria
Apr 26, 2018 - 12:48
When the OPCW's fact-finding mission arrived in Damascus on April 14, it was delayed during its first entry to Douma by attacks. Damascus and Moscow insist there was no chemical weapons attack. "None of them got poisoned with toxic agents", Rudskoy said.

isis-killer-beheading-video-story-top Bob Dorough, 'Schoolhouse Rock!' Performer and Writer, Dies at 94
Apr 26, 2018 - 12:47
Bob Dorough died of natural causes yesterday at his home in Mount Bethel, Pennsylvania. Also Read: Watch " Schoolhouse Rock " TrumpCare Parody: "I'm Just a Bill".

isis-killer-beheading-video-story-top WC-19: Pak, India to face each other on June 16
Apr 26, 2018 - 12:46
India will square off against Pakistan at Old Trafford on June 16 in one of the much-awaited clashes of the ICC World Cup 2019. Proteas batsman AB de Villiers insists a World Cup victory won't define his career but does admit it would be "nice to win it".

isis-killer-beheading-video-story-top BMW iX3 Concept With 400km Range Shown At Beijing Motor Show
Apr 25, 2018 - 16:11
The components for the fifth-generation powertrain are coming from production facilities in the U.S., China and Germany. The BMW iX3 electric SUV is also equipped with aerodynamically optimised wheels shod with low rolling resistance tyres.

isis-killer-beheading-video-story-top Verdict looms into macabre death of Swedish journalist
Apr 25, 2018 - 16:09
Asked about the snuff videos on his computer, Madsen said it was no different from watching a horror film. Hours later, Mr Madsen was rescued from his sinking submarine in a bay south of the Danish capital.

isis-killer-beheading-video-story-top Israel denies killing Palestinian scientist in Malaysia
Apr 25, 2018 - 16:09
Israel said it is protecting its borders and takes such action when protesters come too close to the border fence. In 2016, Hamas blamed Mossad for the killing of a Tunisian national it described as one of its drone experts.

isis-killer-beheading-video-story-top Amazon Alexa App Updated With iPhone X Support
Apr 25, 2018 - 16:08
Of course, even authorized experts (as Apple calls them) have been affected by this issue, which resulted in this week's release . A particular bug was causing some iPhone 8 models fitted with third-party display units to become unresponsive to touch.

isis-killer-beheading-video-story-top Trump's pick to run Veterans Affairs accused of inappropriate workplace behavior
Apr 25, 2018 - 16:07
According to the report, Jackson admitted he had failed to shield the White House medical unit from the leadership drama. It seeks any communication between the Pentagon and the White House regarding "allegations or incidents" involving him.

isis-killer-beheading-video-story-top DEA Aims for Record in Prescription Drug Take-Back Day
Apr 25, 2018 - 16:07
Over the past year, law enforcement and prescribers took new steps to prevent opioid abuse. It is part of the National Prescription Drug Take Back Day sponsored by the U.S.

isis-killer-beheading-video-story-top Europe's minimum age limit for WhatsApp is 16 years
Apr 25, 2018 - 16:06
GDPR also provides users the right to have the companies delete any of their data that the users deem fit. Now if you are living in Europe then you have to be at least 16 years of age to use Whatsapp .

isis-killer-beheading-video-story-top Oxlade-Chamberlain could miss rest of the season and World Cup
Apr 25, 2018 - 16:05
We don't know it exactly but if the medical department is quite concerned without a scan then you can imagine it is hard . Klopp confirmed at the end of the match that the injury looks "bad", but will require a scan.

isis-killer-beheading-video-story-top Milind Soman, Ankita Konwar glow ahead of marriage ceremony
Apr 24, 2018 - 05:24
The 52-year-old dashing fitness enthusiast had reportedly met Ankita's family in Guwahati , Assam last year to plan the wedding. Trolled several times for the age gap between them, nothing that the haters said made Milind and Ankita change their minds.

isis-killer-beheading-video-story-top Matt Harvey Is Demoted to the Mets' Bullpen
Apr 24, 2018 - 05:22
Teheran is 1-1 with a 5.02 ERA, a 1.81 WHIP, 10 walks and 18 strikeouts over 14.1 innings in his last three starts. New York Mets manager Mickey Calloway announced Saturday that Harvey is being moved to the bullpen.