The DAX index has gained ground on Thursday, continuing the upward trend seen on Wednesday. Currently, the DAX is at 11,947, up 0.36% on the day. In economic news, German Final CPI remained steady, with a gain of 0.4%. This matched the forecast. On Friday, the eurozone releases industrial production.
There were no surprises for investors from the ECB policy meeting. The bank held the minimum bid rate at 0.00%, where it has been pegged since 2016. Investors were more interested in Mario Draghi’s comments after the rate decision. Draghi acknowledged that eurozone economic data remains weak, particularly in the manufacturing sector. The economic outlook remains weak, with Draghi saying that “slower growth momentum is expected to extend into the current year”. At the same time, Draghi said that the likelihood of a recession remains low. On the inflation front, Draghi stated that interest rates will remain at current levels at least until the end of 2019 and possibly later.
