Mario Draghi’s Live Speech before EU Parliament

ECB President Mario Draghi will make an Introductory Statement at the Quarterly Hearing before the Committee on Economic and Monetary Affairs of the European Parliament at 13GMT and he will also speak as Chair of the European Systemic Risk Board (ESRB) at 15GMT.

In the current context of marginal trading conditions due to the holidays in the UK and the US, today’s speeches by Mario Draghi should grab all the markets’ attention, particularly against the backdrop of rising bets on a potential shift to a more hawkish tone by the central bank in the upcoming months. These growing chatter appears backed by the incipient – albeit asymmetric - recovery of the region and the recent pick up in inflation.

Background

ECB’s Nowotny: Shouldn't speculate on outcome of June ECB meeting

ECB governing council member and Austrian central bank chief Ewald Nowotny noted the following during his scheduled speech in Vienna: "Can't expect growth rates of two post-war decades"

ECB’s Villeroy: Steepening of yield curve good for banks, doesn't expect "brutal" rise in rates

ECB governing council member and Bank of France head Villeroy crossed the wires now, via Reuters, making a scheduled speech on the EU banking union.

ECB: Euro zone corporate lending growth hits post-crisis high - RTRS

According to the fresh data from the European Central Bank (ECB) showed released on Monday, Eurozone private sector lending set a fresh post-crisis high in April, even as a key money supply indicator dipped more than expected, Reuters reports

About the Committee on Economic and Monetary Affairs (ECON)

The Committee is responsible for Economic and Monetary Union (EMU), the regulation of financial services, the free movement of capital and payments, taxation and competition policies, and the international financial system.

About Mario Draghi

The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. As part of his job in the Governing Council he gives press conferences in the back of how the ECB observes the current European economy. President's comments may determine positive or negative the Euro's trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).