September 24, 2018 / 1:20 PM / 21 days ago

REFILE-Inflation recovery conditional on low rates through summer: ECB's Draghi

(Adds source in headline)

BRUSSELS, Sept 24 (Reuters) - The recovery in inflation expected by the European Central Bank is conditional on market interest rates staying low through the summer of next year, the ECB’s President Mario Draghi said on Monday.

“Steering expectations of the policy rate path was critical because the path of inflation that the Governing Council viewed as moving closer to the objective of a sustained adjustment was – and still is – conditional on a term structure of interest rates that embodies expectations of constant policy rates over an extended period of time after December 2018,” he told the European Parliament. (Reporting By Francesco Canepa Editing by Maria Sheahan)

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