ECB President Draghi speaks in Germany. He said:
ECB critics have been proved wrong in the past.
Concern over ECB monetary policy don't stand up to scrutiny.
Needs to complete monetary union on all fronts.
ECB will fulfill its mandate meeting. Our objective is about credibility.
Is clear that the impact of the APP on confidence, credit and the economy has been substantial.
Euro area recovery is proceeding.
The ECB is contributing to securing the cyclical recovery by fulfilling our price stability mandate.
To turn the cyclical recovery into a structural recovery, others have to play their part.
Core inflation is not ECB objective; it leads headline inflation.
Meeting the inflation objective matters for ECB credibility.
EURUSD change a few pips since the headlines started to come out.
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