Draghi's Cry for Decent Pay Shows ECB Can't Slow Stimulus Yet
- ECB president worries about low-quality jobs curbing inflation
- Governing Council takes first small step toward stimulus exit
Mario Draghi.
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Mario Draghi is reminding everyone that the euro-area economy may have turned the corner, but the job market is still far from healthy.
Almost six years into his term, the European Central Bank president was finally able to say on Thursday that the risks to growth are balanced. He even stopped saying that the Governing Council may cut interest rates again. But on inflation -- the ECB’s primary mandate -- he insisted that nothing substantial has changed.