Draghi Says Officials ‘Aren’t There Yet’ as ECB Keeps Stimulus
- President says ‘we need to be persistent and patient’
- ECB kept interest rates, forward guidance on QE unchanged
ECB's Draghi Says Substantial Accommodation Still Needed
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Mario Draghi said policy makers are still waiting for inflation to catch up with the economic recovery as they put off discussions on winding back stimulus until after the summer.
“We are finally experiencing a robust recovery where we only have to wait for wages and prices to follow course,” the European Central Bank president told reporters at a news conference in Frankfurt on Thursday. “We need to be persistent and patient and prudent, because we’re not there yet.”