ECB Says Don't Worry as Euro Area Hits Economic Soft Patch
- Data has been weak in run-up to the April 26 policy meeting
- Draghi and colleagues say they’ll go slow paring back stimulus
European Central Bank headquarters in Frankfurt.
Photographer: Martin Leissl/Bloomberg
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The European Central Bank’s top officials lined up to express cautious confidence in the euro-area economy after a series of reports pointing to a surprisingly weak start to the year, while reiterating that they’ll move only slowly toward ending stimulus.
President Mario Draghi and three of his most-senior colleagues signaled on Monday that while inflation remains too low and a global trade spat poses a new threat, the upturn is still intact. The comments come just over two weeks before the Governing Council meets to discuss how and when it might end its bond-buying program.