ECB's Draghi: Uncertainties relating to geopolitical factors and threat of protectionism is weighing on economic sentiment

Below are some key takeaways from the introductory statement delivered by Mario Draghi, President of the ECB, at the ECON committee of the European Parliament, Brussels, 28 January 2019.

• Over the past few months, incoming information has continued to be weaker than expected on account of softer external demand and some country and sector-specific factors. 
• The persistence of uncertainties in particular relating to geopolitical factors and the threat of protectionism is weighing on economic sentiment.
• At the same time, supportive financing conditions, favourable labour market dynamics and rising wage growth continue to underpin the euro area expansion and gradually rising inflation pressures.
• Significant monetary policy stimulus remains essential to support the further build-up of domestic price pressures and headline inflation developments over the medium term.
• The Governing Council stands ready to adjust all of its instruments, as appropriate, to ensure that inflation continues to move towards the Governing Council’s inflation aim in a sustained manner.