Draghi speech: Symmetry means there is no 2% cap

Following the European Central Bank's expected decision to keep the benchmark interest rate steady at 0%, Mario Draghi, President of the ECB, is responding to questions from the press with key quotes, via Reuters, found below.

"If medium-term inflation outlook falls short of aim Governing Council determined to act."

"Committment to symmetry new in ECB's language."

"Had a broad discussion. People had different nuances about different parts of the package."

"There isn't any change in inflation aim."

"We had a discussion about symmetry. Symmetry means there is no 2% cap."

"There was a discussion on whether we should move to a different objective."

"We don't like the current inflation so no question about accepting lower inflation as seen today."

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).