Unusually hawkish ECB Draghi

FXStreet (Bali) - An unusually hawkish Draghi is crossing the headlines, as his press conference gets underway, with the main headlines so far found below:

We conducted a thorough assessment of inflation and monetary policy

QE extended by 7 months

No increase in QE

Will reinvest QE proceeds

Persistent low inflation reflects sizeable economic slack

Risks to economic outlook to the downside

Our decisions reinforce momentum of the euro area's economic recovery and strengthen its resilience against global economic shocks

Willing to use all instruments

Low oil should provide support for households

Government expenditure likely to increase

Eurozone growth dampened by subdued growth in emerging markets