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Draghi Focuses on ECB Stimulus as Latvia Sidelined in Brussels

  • ECB chief addressed European Parliament lawmakers on Monday
  • President had little to say on Baltic central-bank crisis
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Draghi’s opening statement on the economy, inflation and stimulus.(Source: Europe by Satellite)
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Mario Draghi largely skirted the Latvia crisis affecting the European Central Bank and stuck to his plans to keep adding stimulus as he addressed European Parliament lawmakers on Monday.

The ECB president said he’s not yet ready to pare back support for the euro area despite increasing confidence that inflation will pick up. Economic slack may be bigger than thought, and policy makers must remain persistent in providing monetary accommodation, he said, adding that they must also recognize the support comes from the full suite of measures and not just bond purchases.