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Financial News: Draghi Says ECB To Be Patient On Timing

Draghi Says ECB To Be Patient On Timing Of First Rate Hike

06/19/2018 - 05:15:00 (RTTNews)

(RTTNews) - European Central Bank President Mario Draghi said the bank will remain patient in determining the timing of the first rate rise and will take a gradual approach to adjusting policy thereafter.

At a conference in Sintra, Portugal, Draghi said the bank stands ready to adjust all instruments as appropriate to ensure that inflation continues to move towards the target.

He concluded that monetary policy in the euro area will remain patient, persistent and prudent.

Draghi observed that the economy continues on a growth path and inflation is gradually returning towards objective. But uncertainty permeates the economic outlook.

At the governing council meeting last week, the ECB announced its plan to start exiting its massive quantitative easing by the end of this year.

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