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Monetary policy will be continued



President of European Central Bank Mario Draghi said that the economic situation in the Eurozone is getting better, but moving away from a soft monetary policy is too early.



04.May.17 1:32 AM
By Christina Orlina
Photo Toinnov.com

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Monetary policy will be continued
According to him, the economic problems in the Euro area exist mainly due to global factors.
To the question whether affected on its assessment of the likely victory of Emmanuel Macron, the French elections, he replied: “We don't build our monetary policy on the basis of who can win elections”.

Mario Draghi recently returned from Washington where he held meetings with their American counterparts. What conclusions he reached as a result of this communication: “It seems to me that the risk of trade protectionism retreated somewhat.

There is no doubt that the market is now – not our, but the markets are preparing for a new tax policy in the United States. And honestly, I have nothing to add to this”.

The ECB kept its benchmark rate at zero, and the deposit rate remained at minus 0.4%. The Bank plans to spend 60 billion euros per month to purchase assets in the framework of the program of “quantitative easing”. Thus he rejected the German demand to tighten monetary policy.



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