ECB chief Draghi's policy statement

FRANKFURT, Germany (AP) — Below is the text of the statement made by European Central Bank President Mario Draghi at a press conference in Frankfurt on Thursday. The bank cut three key interest rates by a quarter percentage point, including its main refinancing rate, now at a record low of 0.75 percent.

“Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. We will now report on the outcome of today’s meeting of the Governing Council, which was also attended by the Commission Vice-President, Mr Rehn.