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Draghi Urges German Patience on Inflation as Euro Area Heals

  • Governing Council left interest rates, bond program unchanged
  • Germany’s Schaeuble says it’s a problem to explain ECB policy
Bloomberg business news

ECB Holds Bond Buying Steady, Watching Inflation

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Mario Draghi called on Germany to be calm as the European Central Bank keeps pumping stimulus into the euro area, saying rising inflation will eventually bring higher interest rates for savers.

“As the recovery will firm up, rates will go up as well,” the ECB president told reporters in Frankfurt on Thursday after the Governing Council reaffirmed its intention to keep its bond-buying program going until at least the end of the year. Asked about German criticism of the strategy, he said “the honest answer would be: Just be patient.”