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- European Central Bank President Mario Draghi: the central will continue its asset buying programme until September 2016 or as long as needed
European Central Bank President Mario Draghi: the central will continue its asset buying programme until September 2016 or as long as needed
The European Central Bank (ECB) President Mario Draghi said at a press conference on Wednesday that the central will continue its asset buying programme until September 2016 or as long as needed.
"We have to look through the medium term, until the objectives has been reached in a sustained fashion," Draghi noted.
"The full implementation of all our monetary policy measures will provide the necessary support to the economic recovery in the euro area and lead to a sustained return of inflation rates towards levels below, but close to, 2 percent in the medium term," he added.
The ECB president pointed out that the economy should recover and domestic demand should be supported by quantitative easing, adding that recovery is on track according to the central bank's projections.
Draghi noted that the economic growth in the Eurozone could remain low due to "the sluggish pace of implementation of structural reforms".
"The risks surrounding the economic outlook for the euro area have become more balanced on account of our monetary policy decisions and oil price and exchange rate developments. Inflation bottomed out at the beginning of the year," Draghi said.
He also said that he wants Greece to stay in the Eurozone, "but it has to be a strong agreement".
Draghi declined to comment on the debt talks between Greece and its creditors.
The central bank kept its interest rate unchanged at 0.05%.
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