September 12, 2017 / 4:36 PM / in 9 months

Schaeuble trusts Draghi, 'basically confident' in ECB policy

BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble told Germany’s Suedkurier newspaper he trusts European Central Bank President Mario Draghi and is “basically confident” in the bank’s policy course.

German Finance Minister Wolfgang Schaeuble attends an European Union finance ministers meeting in Brussels, Belgium, July 11, 2017. REUTERS/Francois Lenoir

Draghi said after an ECB policy meeting last Thursday that the euro’s strength is already weighing on inflation and will be a key factor for the ECB next month when it decides how to proceed with its massive stimulus program in 2018.

“Mario Draghi said the October meeting would assess the impact of the relatively significant rise in the euro and then make decisions. I am basically confident,” Schaeuble said in a pre-released interview to run in the Suedkurier on Wednesday.

“You know that I have long held the view that it is time to start the exit. I do not regard the exceptional monetary policy as sustainable in the long run,” he added.

Writing by Paul Carrel; Editing by Andrea Shalal

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