Draghi: The economy of the euro zone continues to recover on a solid and broad basis

FRANKFURT NAD MOHANOM. The eurozone economy continues to recover on a solid and broad basis

The economy of the region is progressing steadily despite the uncertainties surrounding global trade, such as the threat of protectionism.

"The core strength of the economy confirms our confidence that the continued convergence of inflation towards our goal will continue in the coming period and will continue after a gradual reduction" Draghi said at A press conference after an unchanged interest rate decision at a record level

Future plans

Nevertheless, incentives are still needed to support further increases in the pressures on domestic prices.

In June, the ECB announced that it hoped to reduce its purchases of Eurobonds from October and would only invest 15 billion euros instead of 30 billion euros monthly current. And in December, he will definitely end this purchase.

Draghi noted that "uncertainty about the outlook for inflation is declining". The risks for growth in the euro zone are balanced, but at the same time the situation must be monitored.

As for the monetary policy of the ECB, the key words remain "patience, prudence and perseverance," said the president of the ECB.

He also argued that the Board of Governors has not considered the reinvestment of debt securities purchased under the ongoing investment program in the euro area.

He stated that the ECB was ready to adapt all its instruments. (19659007) Just six years ago, Draghi said that the ECB was ready to do "all that is necessary" to sustain the euro in a sustainable way. The European Central Bank under his leadership has managed to achieve this goal

Journalists on the trade deal between US President Donald Trump and European Commission President Jean-Claude Juncker Draghi have stated that he was too early to assess its impact.

In response to the US party's assertion that the ECB kept the euro low to make the euro area a profitable export, Draghi reiterated that "the exchange rate n & # Is not is the political objective of the bank.

He recalled that the international consensus on the postponement of competitive devaluations has been in force for decades