FULL TEXT: Mario Draghi speech at ECB

The following is the full text of European Central Bank president Mario Draghi's speech at a press conference in Frankfurt today.

7th February, 2013

Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. We will now report on the outcome of today’s meeting of the Governing Council.

Based on our regular economic and monetary analyses, we decided to keep the key ECB interest rates unchanged. HICP inflation rates have declined further, as anticipated, and are expected to fall below 2% in the coming months.

Over the policy-relevant horizon, inflationary pressures...

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