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22 Jan 2015
Draghi: Structural reform is needed alongside ECB action
FXStreet (London) - In his press conference following the European Central Bank Governing Council’s decision to announce a combined monthly purchase programme of EUR60 billion, beginning in March and carried out at least until the end of September 2016, ECB president Mario Draghi stressed the need for structural reform alongside central bank action.
Draghi stated that “monetary policy can create the basis for growth but it's up to governments and the European Commission to make sure growth actually takes place.”
Draghi added that the governing council was unanimous in stating that asset purchase programme is a true monetary policy tool in a legal sense and that a “large majority” was in favour of taking action now.
Draghi stated that “monetary policy can create the basis for growth but it's up to governments and the European Commission to make sure growth actually takes place.”
Draghi added that the governing council was unanimous in stating that asset purchase programme is a true monetary policy tool in a legal sense and that a “large majority” was in favour of taking action now.