7/20/2017, 3:13 PM (Source: TeleTrader)
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ECB wants to avoid abrupt tightening, Draghi says

The European Central Bank will stay in the market "for a long time," said Mario Draghi, its president. Speaking to reporters after the monetary policy meeting on Thursday, he also stressed the institution wants to avoid an "unwanted tightening of conditions" which would clog up recovery, signaling once more rate-setters are determined to stick to easing measures. The Eurozone's top policymaker expressed confidence an eventual reduction of stimulus wouldn't result in volatility, and claimed there is evidence to support it in past examples when his peers used "all the flexibility that is needed."

Turning to strategy toward the end of the year, when the ECB may start discussing changes to asset purchases, Draghi underscored inflation will be the main factor to look at. He added there isn't a single "data point" that can trigger changes.

Baha Breaking the News (BBN) / IT