(Bloomberg) -- European Central Bank President Mario Draghi said risks to the euro area's economic outlook remain tilted to the downside and a pickup in inflation is delayed, warranting a continued accommodative monetary policy that includes negative interest rates.
“If necessary, we need to reflect on possible measures that can preserve the favorable implications of negative rates for the economy, while mitigating the side effects, if any,' Draghi said. “That said, low bank profitability is not an inevitable consequence of negative rates.”
To contact the reporter on this story: Piotr Skolimowski in Frankfurt at pskolimowski@bloomberg.net
To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Jana Randow, Carolynn Look
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
