Hello and welcome to today’s live blog for European Central Bank president Mario Draghi’s first press conference of 2013.
Mr Draghi will begin speaking at 13.30. All times are UK time.
14.40 The live blog is now closed.
14.38 The ECB president struck a very upbeat tone at today’s presser.
Mr Draghi is clearly delighted with the recent developments in financial markets (see 13.46), though he warned against complacency on the part of governments and added that we were yet to see any signs of an economic recovery.
Because markets were a lot more positive, the governing council was unanimous in deciding to hold rates and no-one even bothered to discuss the option of a cut, which now looks unlikely to happen in the coming months.
14.30 The questions end. Recap to follow.
14.28 Contagion is now working in the eurozone’s favour. “There is a positive contagion when things go well and that’s what’s in play now,” he says.
Despite the recent progress made, however, Draghi say DON’T relax. Which is all well and good, but it doesn’t make for a decent t-shirt does it?
He urges governments to keep up the good work and continue to implement structural reforms.