ECB Draghi: “even rates still or downhill than in 2017″ – The Messenger

Global economic uncertainties “persist” but the ECB expects that the ongoing recovery. He said the ECB president, Mario Draghi, noting that the most recent data confirm “the current acceleration in credit growth, in support of the economic recovery.” “In the first quarter in the euro area is expected to post steady growth, a trend similar to that recorded in the last quarter of 2015. For the future, the recovery continues,” he said, stressing that to curb the growth are ” the adjustment of financial statements, inadequate structural reforms and less positive prospects in emerging markets. “

” We expect low rates for an extended period, even beyond the horizon of our purchasing program, “he then said Draghi, adding that was initiated “the expansion of purchases under our program, purchases will continue until March 2017 and beyond, if necessary.”

“the respect of the stability and growth Pact is crucial and keeping promises, “he then added the president of the ECB,” They also serve budgetary policies that will promote growth. ” If you were to face a financial squeeze undesirable that adversely affect the medium-term inflation outlook, the ECB “is ready to act using all the tools granted by its mandate”

Draghi went on to say that l ‘helicopter money, the distribution of the money created by the ECB directly to traders bypassing the banks, “we never discussed,” and said he was “quite surprised by the interpretation of my words” in this regard.

to the criticism of some members of the German government (and in particular the Finance Minister Wolfgang Schaeuble) compared to the work of the central bank, the president responded that the ECB summits obey “the laws “and not to politicians, adding that” the Governing Council unanimously defends the independence of the central bank and the adequacy “of its current monetary policy and that the to ECB has a mandate” for the entire euro zone, “not for Germany alone.

the fund Atlas “is a small step in the right direction,” he then said Dragons on the fund to help ailing banks in Italy to raise capital and dispose suffering. Draghi also stated, with regard to Atlas, that “we have not yet fully examined the details.”