Cryptocurrencies

Draghi Says ECB Can't Yet Declare Victory in Inflation Fight

Euro-area economy is expanding significantly above potential
ECB president speaks at European Parliament in Strasbourg

ECB President Mario Draghi delivers the central bank’s annual report to the European Parliament in Strasbourg. (Source: Bloomberg)

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Alessandro Speciale and Jonathan Stearns

February 5, 2018 at 4:24 PM UTC

Updated on

February 6, 2018 at 9:31 AM UTC

This article is for subscribers only.

Mario Draghi said that the European Central Bank still can’t claim success in its struggle to restore inflation, and defended its policies from complaints that they widen inequalities.

“While our confidence that inflation will converge toward our aim of below, but close to, 2 percent has strengthened, we cannot yet declare victory on this front,” the ECB president said at European Parliament hearing in Strasbourg on Monday. “Monetary policy will evolve in a fully data-dependent and time-consistent manner.”