The most important take away from Draghi's initial remarks is that he has reiterated the forward guidance that rates will remain this low or lower for an extended period. There were some suspicions, given clear signs of an economic recovery, judging from the PMI data, which Draghi did acknowledge. Draghi also revealed that the new staff forecasts envision slightly better economic performance than seen in June. The region's economy is expected to contract 0.4% this year rather than 0.6%. Next year's growth is expected to be 1.0% vs 1.1% seen previously. Draghi sees risks to the downside. Inflation is low and ... (full story)