Mario Draghi, head of the European Central Bank, has concluded the month's rate conference — where he left the benchmark unchanged at 1.0%.
Below is a summary of the most important commentary at the session with reporters:
-Draghi said he was "really very concerned" about the continuing issues in Hungary involving pressures on the nation's central bank.
-The ECB will change capital requirements for financial institutions before the next round of long-term refinancing operations to allow greater involvement. Last time, the bank injected €489 billion into Eurozone capital markets.
-The ECB governing council is calling for bold and ambitious structural reforms by governments to right the financial crisis. Key reforms should be rapidly carried out to "improve competitiveness ... and enhance longer term growth potential," Draghi says.
Full coverage of Draghi's statements are below.
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- NO CUT: ECB LEAVES INTEREST RATE UNCHANGED