(Reuters). Although European Central Bank (ECB) says growth euro zone is gaining momentum, uncertainty it is high, partly because of the referendum on Thursday in the UK.
Therefore, the ECB is ready to act with all instruments if necessary, the ECB president, Mario said today Draghi.
the ECB has applied stimulus unprecedented in recent years, with cuts in their rates into negative territory and the purchase of 1.7 billion euros in sovereign and corporate debt to boost growth and inflation.
“uncertainty remains high and downside risks are still significant due to the fragile state of the global economy and geopolitical events,” Draghi said in a speech to the Committee on economy the European Parliament.
“We are ready to act using all available instruments in our mandate, if necessary, to meet our goal. In particular, the ECB is prepared for all contingencies after the referendum in the UK on the EU, “he added.
However, Draghi also said the ECB approved but not fully implemented measures, supporting arguments of members of the organization who claim that it was necessary to have patience with the bank.
the ECB started buying corporate debt less than two weeks ago and offer very cheap loans this week, in an attempt to reduce borrowing costs of companies.
“There are more monetary policy stimulus in the repertoire. We hope more companies, including medium-sized companies to access this source of external financing in the near future, “said Draghi.
The ECB has long said that he can not tackle economic problems block alone and called on members to take over the responsibility of states.
No comments:
Post a Comment