Eurozone GDP data released yesterday by Eurostat “were more negative than we expected, but there is a situation of growing stabilization of economic activity and signs of confidence, albeit at a low level. We see spreads going down, volatility going down and confidence going up.” This was stated by the president of the European Central Bank, Mario Draghi, during a press conference in Moscow as part of the G20 Finance.
As for exchange rates, “they are not a political objective – continued Draghi -, but they are important both for growth and for price stability. In any case we will monitor the situation, all this chatter that chases each other is fruitless, self-defeating and inappropriate ".
