[ad_1]
European Central Bank President Mario Draghi has said that while the financial stability environment in the Euro Area remains favourable overall, it has become somewhat more challenging in recent months.
Addressing the Committee on Finance, Public Expenditure and Reform and Taoiseach today, Mario Draghi also said that it was essential to prepare for all possible Brexit outcomes.
The ECB President downplayed a recent string of weak economic data, arguing that the euro zone’s broad-based expansion is set to continue.
“While some sector-specific data and selected survey results have been somewhat weaker than expected, the latest incoming information overall suggests that the broad-based expansion in the euro area, and in Ireland, is set to continue,” Mr Draghi said.
He also reaffirmed the ECB’s plans to wind down bond purchases, also known as quantitative easing, by the close of the year and to keep rates at a record low at least through next summer.
[ad_2]
Source link
