RIGA: European Central Bank President Mario Draghi said on Thursday that the euro zone recovery was still "very, very green" and the recent rise in short-term money market interest rates was unwarranted.
Speaking at the official euro entry conference in Latvia, Draghi confirmed the central bank's forward guidance to keep rates low or lower levels for some time and stressed that the bank was not running out of policy options.
"The recovery is still very, very green," Draghi said.
"I haven't manifested any enthusiasm for the better data, mostly by the way survey data, not hard data, that we have seen in the recent past.We will continue in the present (monetary policy) stance." "
The short-term money market rates at some point in time have been unwarranted and they are and we will continue with the same forward guidance," he added.
indiatimes.com
Speaking at the official euro entry conference in Latvia, Draghi confirmed the central bank's forward guidance to keep rates low or lower levels for some time and stressed that the bank was not running out of policy options.
"The recovery is still very, very green," Draghi said.
"I haven't manifested any enthusiasm for the better data, mostly by the way survey data, not hard data, that we have seen in the recent past.We will continue in the present (monetary policy) stance." "
The short-term money market rates at some point in time have been unwarranted and they are and we will continue with the same forward guidance," he added.
indiatimes.com
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