European Central Bank Press Conference
The ECB press conference is held at the ECB European Central Bank headquarters where ECB president Mario Draghi and vice president Luis De Guindos speak. The conference is about an hour long. It is divided into two parts. During the first part, the speaker reads a prepared statement, also called the interest rate statement. The second part is a question and answers session where the ECB president and vice president take questions. As in other speeches from central bankers, forex traders try to decipher clues from the speeches. Although, unlike some speeches, the ECB press conference always discusses monetary policy. This is the primary way the ECB communicates with the public regarding the monetary policy. It generally covers, in detail, the Central Banks’ views on the Eurozone economy and inflation expectations. The questions often lead to unexpected answers, therefore high volatility is expected during the press conference.