ECB's Draghi: Downside risks related to FX markets continue to exist

Key highlights from the introductory statement by Mario Draghi, President of the ECB, at the ECON committee of the European Parliament, Brussels, 25 September 2017:

• Over the past 12 months, the recovery has accelerated and broadened, supported by the pass-through of our monetary policy.
• Real GDP growth was better than expected in the first half of 2017.
• Latest information indicates continued momentum in the period ahead.
• Risks surrounding the euro area growth outlook are broadly balanced.
• At the same time, downside risks continue to exist, mainly related to global factors and developments in foreign exchange markets.
• A very substantial degree of monetary accommodation is still needed for the upward inflation path to materialise. 
• We will decide later this year on a re-calibration of our instruments.