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European Central Bank (ECB) President Mario Draghi will give a press conference following a routine meeting on monetary policy. Euro zone economic growth outstripped that of the U.S. in the first quarter of this year, and promising numbers call the future of the bank’s bond-buying program into question. Also, some speculate that Draghi will announce changes to the bank’s forward guidance, which could impact markets. As the euro zone economy slowly recovers, eyes are on Draghi to see how the ECB will respond.
Just ahead of the press conference, the ECB left its benchmark interest rate unchanged on Thursday and dropped any reference to a future rate cut. In a statement it said it expected interest rates to “remain at present levels for an extended period of time,” but added that it would be ready to extend its quantitative easing (QE) program if needed.