April 1, 2019 / 1:25 PM / 5 months ago

ECB stimulus remains essential: Draghi in annual report

FILE PHOTO: European Central Bank (ECB) President Mario Draghi speaks at the 28th Frankfurt European Banking Congress (EBC) at the Old Opera house in Frankfurt, Germany November 16, 2018. REUTERS/Ralph Orlowski/File Photo

FRANKFURT (Reuters) - The European Central Bank needs to keep providing substantial stimulus to combat risks related to geopolitical uncertainties, ECB President Mario Draghi said in the bank’s 2018 annual report on Monday.

“Substantial monetary policy stimulus remains essential to

ensure the continued build-up of domestic price pressures over the medium term,” Draghi said, repeating the ECB’s long-standing policy message.

“In view of the persistence of uncertainties related to geopolitical factors, the threat of protectionism and vulnerabilities in emerging markets, the conduct of monetary policy in the euro area will continue to require patience, prudence and persistence,” he added.

Reporting by Balazs Koranyi

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