"We are convinced that disputes should be discussed and resolved in a multilateral framework", he said, warning that "unilateral decisions are dangerous". The ECB chief also wondered aloud, "what's going to be the response of the exchange rate?"
European Central Bank head Mario Draghi expressed concern about U.S. President Donald Trump's announced trade measures, saying the immediate spillover "is not going to be big" but that "unilateral decisions are risky".
Earlier on Thursday, the bank left its key interest rates and asset purchases unchanged and dropped the reference in the forward guidance to being ready to raise the size and duration of the stimulus if the macroeconomic outlook turned less favorable.
Draghi pointed out that the easing bias in the forward guidance was introduced in 2016, when the European Central Bank trimmed the size of its monthly purchases from Euro 80 billion to Euro 60 billion.
The platinum market will be broadly balanced this year as a drop in supply trims last year's surplus to negligible levels, the World Platinum Investment Council said on Thursday. "The governing council has decided unanimously to ask for clarification by the court of justice of the European Union whether individual security measures imposed on the governor of Latvijas Banka by the Latvian anti-corruption authority on 19th February 2018 have had the effect of relieving him from office and [whether] these measures comply with Union law".
The change in the language of the central bank is likely to be the first step to choreograph an eventual winding-down of its asset program, noted Lloyds Bank in a research report. However, with inflation weak and President Mario Draghi maintaining his dovish stance during recent communications we think that the European Central Bank will keep its forward guidance unchanged today.
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The euro rose from $1.2379 before the bank issued its policy statement to as high as $1.2425.
The U.S. Dollar rose against a basket of major currencies with the exception of the Canadian Dollar on Thursday. It slightly reduced its 2019 inflation forecast to 1.7% from 1.9%.
The ECB staff outlook for inflation doesn't have it nearing its close to but just below 2 percent target for at least another three years, and the latest Reuters surveys of private sector economists suggest the same.
"The effect on confidence is very hard to assess, estimate, forecast, but if it's a negative effect on confidence that is going to be negative on both inflation and output", he said. We need to move above the 108.30 area to stabilise.
"Overall, an ample degree of monetary stimulus remains necessary for underlying inflation pressures to continue to build up and support headline inflation developments over the medium term".
The leader of Italy's anti-establishment 5-Star Movement said on Friday his party was preparing economic policy proposals for other parties as a way of finding common ground to form a government.