Draghi Speech: Economic upswing is becoming solid

Key quotes from the introductory statement by the President at the Quarterly Hearing before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Brussels:

• Downside risk to economic outlook is further diminishing
• Despite firming recovery, domestic wage pressures are insufficient to support the HICP towards our medieum-term objective
• In June meeting will receive an update on growth and inflation outlook
• An extraordinary amount of mon. pol. support is still neccessary