Draghi's speech: Euro strength could weigh on inflation down the line
|Speaking at the ECB conference, hosted by the Institute for Monetary and Financial Stability, in Frankfurt, the ECB President Mario Draghi said:
• Monetary policy will remain patient, persistent, and prudent
• Sustained adjustment in the path of inflation towards target is the condition for net asset purchases to end
• Still need to see further evidence that inflation dynamics are moving in the right direction
• Now more confident than in the past that inflation is on the right track
• But risks and uncertainties still remain
• Net asset purchases remain necessary for now
• Any policy adjustments to remain predictable, and will proceed at a measured pace
• Key question is how quickly stronger demand will translate into rising prices
• Performance of underlying inflation remains subdued compared with previous recoveries
• Euro strength could weigh on inflation down the line
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