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Draghi Sees ECB Easy Stance More Effective as Economy Heals
The European Central Bank’s accommodative monetary policy should be increasingly felt throughout the euro-region economy as disruptions in the financial system wane, President Mario Draghi said. “As policies to reverse fragmentation accelerate, and bank deleveraging and restructuring proceeds, monetary policy should become increasingly effective,” Draghi said in a speech in Paris today. “I expect monetary policy to regain influence over the economic cycle, and our accommodative stance to support a gradual closing of the output gap in the coming years.” Draghi’s optimism on the region’s rebound is ... (full story)