Draghi Says Euro Area Still Requires ECB Monetary Support
- ECB president speaks at quarterly European Parliament hearing
- Recovery increasingly solid but price pressures still subdued
Draghi Says Firmly Convinced of Need for ECB Support
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The euro area still needs expansive monetary stimulus to restore stable inflation even as its economy accelerates, European Central Bank President Mario Draghi said.
“We remain firmly convinced that an extraordinary amount of monetary policy support, including through our forward guidance, is still necessary,” Draghi told lawmakers on Monday in Brussels. “Domestic cost pressures, notably from wages, are still insufficient to support a durable and self-sustaining convergence of inflation toward our medium-term objective.”