Draghi Says ECB Policy Potent as Low-Rate Risks Monitored
(Bloomberg) -- European Central Bank President Mario Draghi says the ECB's non-standard measures have proven effective and low interest rates haven’t yet led to financial imbalances. This is a two-minute extract of key moments from Draghi's remarks at the 2015 Michel Camdessus Central Banking Lecture at the International Monetary Fund's headquarters in Washington. (Video courtesy of the IMF. Source: Bloomberg)
Mario Draghi said the European Central Bank’s non-standard measures have proven effective, and low interest rates haven’t yet led to financial imbalances.
Unconventional actions “have proven so far to be potent, more so than many observers anticipated,” the ECB president said in a speech in Washington. “While a period of low interest rates will inevitably result in some local misallocation of resources, it does not follow that it has to threaten overall financial stability” and “there is little indication that generalized financial imbalances are emerging,” he said.