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  Draghi emphasizes the need for very loose monetary policy News | Bit Updates
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Draghi emphasizes the need for very loose monetary policy News

Saturday, August 26th, 2017 | bitcoin updates

By Hans Benzin JACKSON HOLE / FRANKFURT (Dow Jones) – The President of the European Central Bank (ECB) has stressed the need for a very loose monetary policy. At a press conference on the fringe of the Kansas City Fed monetary policy symposium in Jackson Hole, Draghi said that a significant degree of monetary accommodation is still needed. Draghi justified this by saying that inflation is not yet self-sustaining and not dynamic in the direction of the inflation target of just under 2 percent. Therefore, the ECB would be "patient". In the run-up to the ECB's Council meeting on 7 September, Draghi thus consolidated key elements of ECB communication. This is important in that observers had speculated about the possibility that Draghi could reveal details of the generally expected reduction in ECB bond yields in Jackson Hole. Instead Draghi stressed that the bond purchase program was "very successful". Contact the author: hans.benzin@dowjones.com DJG / hab / raz (END) Dow Jones Newswires Dow Jones & Company, Inc. – 04 04 PM EDT 08-25-17

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