ECB's Dovish Draghi Will Continue to Talk Up Stocks, Talk Down Euro: Analyst

Central banks to the rescue – European Central Bank President Mario Draghi tells markets just what they want to hear in a time of unprecedented volatility. While the ECB didn’t announce additional quantitative easing stimulus, it kept key interest rates unchanged and left the door open for additional easing at its next meeting in March. ‘Ultimately, people are taking it as a dovish Mario Draghi,’ said Joshua Mahony, a market analyst with IG, based in London. ‘But quite honestly, when has Mario Draghi not been dovish? He’s always been in a position where he wants to talk up the equity markets and most notably talk down the euro.’ Inflation has remained stubbornly low in the eurozone, despite the ECB’s massive quantitative easing program, which began last March. TheStreet’s Scott Gamm has details from Wall Street.