ECB's Draghi: Trigger for policy action is the absence of improvement

While speaking at the policy panel at the European Central Bank (ECB) Forum on Central Banking in Sintra, Portugal, ECB President Mario Draghi said that the trigger for policy action is "the absence of improvement." There was not reaction from the EUR/USD pair so far and it was last seen trading at 1.1190, losing 0.25% on the day.

Key quotes

• Core inflation remains muted. There is a certain disconnect with the current data and market-based expectations.
• Inflation path is converging more slowly than before.
• Some market-based inflation indicators lost information content.