- 24 октября 2019, 10:16
Mario Draghi warns that geopolitical risks are threatening the eurozone recovery, as he gives his final press conference as president of the European Central Bank
- Summary: Draghi leaves with gloomy warning
- Draghi says fiscal policy must do more
- Press conference underway now
- ECB leaves interest rates on hold
- Fears mount over Germany
Finally, here’s my colleague Philip Inman on today’s ECB meeting:
Mario Draghi, the outgoing president of the European Central Bank, has warned that slowing global growth and Brexit uncertainty pose a risk to growth in the eurozone economy amid concerns that Germany remains on the brink of recession.
Speaking in Frankfurt after his final ECB policy meeting before stepping down, Draghi said the ECB was concerned that the economy of the 19-member currency bloc, which has slowed this year along with much of the global economy, faced “protracted weakness” going into 2020.
The weaker pound helped to push the FTSE 100 up by almost 1% today.
The blue-chip index ended 67 points higher at 7,328.25, with exporters and multinationals such as BAE Systems among the risers.Continue reading...