Economics
Draghi Says Time Needed to Judge If More Stimulus Necessary
- President appears before European Parliament lawmakers
- Nowotny said earlier he's wary of expanding bond-buying plan
Draghi: Time Needed to See If More ECB Stimulus Warranted
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Mario Draghi said it’s too soon to say whether risks to the economic outlook warrant a step-up in the European Central Bank’s stimulus.
“More time is needed to determine in particular whether the loss of growth momentum in emerging markets is of a temporary or permanent nature,” the ECB president in his quarterly testimony to European Parliament lawmakers in Brussels on Wednesday. Officials need to “assess the driving forces behind the drop in the international price of commodities and behind the recent episodes of severe financial turbulence,” he said.