Draghi speech: Very favorable financing conditions necessary to raise inflation to target

Key highlights from the introductory statement by Mario Draghi, President of the ECB, following the meeting of the Governing Council of the European Central Bank on April 27:

• Indicators suggest recovery becoming increasingly solid
• Underlying inflation pressures subdued
• Downside risks have further diminished
• Will look through temporary swings in inflation
• Very substantial degree of accommodation still needed