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ECB chief Draghi: Must have patience at higher interest rates News

Saturday, October 14th, 2017 | bitcoin updates

By Christian Grimm WASHINGTON (Dow Jones) – ECB President Mario Draghi has adjusted the financial markets on the margins of the IMF autumn session to an even longer period of low interest rates. Inflation is only slowly approaching the target of the European Central Bank (ECB) of almost 2 percent, Draghi said at a press conference at the traditional International Monetary Fund (IMF) conference and central bank in Washington. "It will take time, we must have patience." The monetary guard admitted that it is now more difficult for central bankers to predict future inflation. The debate over whether the central banks still have the appropriate tools to assess inflation was above the entire autumn round of the international financial markets. Despite this, the Italian was convinced that price growth was a "sustainable way to meet our target" due to the good economic situation. Draghi explained in the same breath that the uncertainty about the development of inflation has no direct impact on the current monetary policy. "Would they increase the interest now? The answer is no," he said. The Governing Council meets at the end of the month to decide on monetary policy. The markets expect a reduction in the bond purchase program. Bundesbank CEO Jens Weidmann insisted on a reduction in the volume in Washington. Contact the author: konjunktur.de@dowjones.com DJG / chg / hab (END) Dow Jones Newswires October 14, 2017 14:06 ET (18:06 GMT)


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