January 21, 2016, 17:27 / Finance

The euro fell during the speech of ECB Chairman Mario Draghi

The euro exchange rate on the Moscow Exchange fell during the speech of ECB head Mario Draghi. The exchange rate of the single European currency as of 16.55 Moscow time reached 89.98 rubles. compared to the level of 91.8 rubles recorded before the performance. After Draghi's statement about a possible increase in stimulus for the eurozone economy, the euro/dollar exchange rate during trading on the over-the-counter Forex market fell by 0.8% to $1.0808 per euro.

The euro accelerated its fall against world currencies after statements by ECB head Mario Draghi that the European Central Bank may reassess its policy in March. In particular, Draghi noted that since the beginning of this year, downward risks have grown, which are slowing down the recovery of the eurozone economy. Among such risks, Draghi named volatility in financial markets and uncertainty around the growth rates of developing countries. In addition, inflation in the eurozone remains worse than expected, Draghi noted. “This may require a reassessment and perhaps a revision of monetary policy at our next meeting in March,” Draghi said during a press conference following the European Central Bank meeting.

Draghi also noted that rates will remain at current levels for some time or will be lowered.

During the previous meeting on December 3, 2015, the ECB extended the economic stimulus program until March 2017 from September 2016.

Previously on the topic: The ECB left the base rate at a record low