Draghi, the last press conference at the head of the ECB. The direct

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The Governing Council of the European Central Bank has decided to leave the interest rates on the main refinancing operations, on the marginal refinancing operations and on deposits unchanged at 0.00%, 0.25% and -0.50 per cent respectively .

This was the day of Mario Draghi's last press conference at the helm of the ECB board, after 8 years at the helm and before leaving it from November 1 to Christine Lagarde, former director of the International Monetary Fund.

The Governing Council expects benchmark interest rates to remain at or below current levels "until the inflation outlook converges firmly on a sufficiently near but less than 2% level in its projection horizon and convergence it will not be reflected coherently in the dynamics of underlying inflation ". Also confirmed the indications on the Qe that will start at the rate of 20 billion euros a month from the first of November. "The Governing Council – the statement reads – expects that they will continue as long as necessary to strengthen the impact of accommodating its reference rates and that they will end shortly before it will begin to raise the reference rates". Finally, the Governing Council intends to continue to reinvest, fully, the capital repaid on the securities falling due within the framework of the Paa for an extended period of time after the date on which it begins to raise the reference interest rates “and in any case as long as it is necessary to maintain favorable liquidity conditions and a large degree of monetary accommodation ”.