The economic upturn of the euro area is strengthening but still requires stimulus, so that the European Central Bank (ECB) is not ready to remove the back, said Monday the president of the financial institution regional, Mario Draghi, before the economic affairs committee of the European Parliament.
The rate of inflation would be accelerating, but above all by the impact of the rise in oil prices and the ECB will see if that effect is temporary, said Draghi at a hearing.
“The support of our measures of monetary policy is still necessary for inflation rates to converge towards our goal with confidence and in a sustained manner”, said Draghi.
“Our monetary policy strategy provides that we should not react to individual data and increases in short-term inflation,” he added.
“therefore, we continue by looking at the changes in the HICP inflation (Index of Consumer Prices (Harmonised) if we believe that they do not affect in a sustained way the picture is medium-term price stability”, said Draghi.
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