Draghi speech: Headline inflation likely to decline slightly before rising at year-end

Following the European Central Bank's (ECB) decision to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, Mario Draghi, President of the ECB, is delivering his remarks on the monetary policy outlook in a press conference with key quotes, via Reuters, found below.

"Services and construction sectors show ongoing resilience."

"Risks tilted to the downside."

"Risks relate to geopolitics, protectionism, the vulnerability in emerging markets."

"Headline inflation likely to decline slightly before rising at year-end."

"Labour cost pressures strengthened."

"Weak growth delays pass-through to inflation."