Draghi Readies for ECB Action in March as Global Risks Escalate
- 8 years ago
Mario Draghi set the euro area up for expanded monetary stimulus for the third time in a year as China’s economic slowdown and market volatility threaten to derail the region’s recovery.
The single currency slid.
The European Central Bank president said officials will review their programs at the next policy session in March and there are “no limits” on how far they’re willing to deploy measures within their mandate.
The Governing Council kept interest rates unchanged at record lows at its meeting in Frankfurt on Thursday.
“We are adapting our instruments to the changing conditions,” Draghi said.
“The credibility of the ECB would be harmed if we weren’t ready to revise the monetary-policy stance.”
The single currency slid.
The European Central Bank president said officials will review their programs at the next policy session in March and there are “no limits” on how far they’re willing to deploy measures within their mandate.
The Governing Council kept interest rates unchanged at record lows at its meeting in Frankfurt on Thursday.
“We are adapting our instruments to the changing conditions,” Draghi said.
“The credibility of the ECB would be harmed if we weren’t ready to revise the monetary-policy stance.”