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Dovish Draghi drives down the euro after promising more QE 'if necessary'
One consistently emphasised theme from Mario Draghi today was the impact of a slowdown in emerging markets on the eurozone's growth. This was the main driver of today's downgrades and weaker prospects for the developing world are unlikely to fade in the medium term, said the Italian. This suggests the current forecasts, which have already been downgraded, are likely to be revised down further. James Athey from Aberdeen Asset Management, thinks Mario Draghi has managed to pull off a delicate balancing act today - warning of the risks ahead for the eurozone, while reaffirming the effectiveness of QE in the real economy ... (full story)