Eurozone Inflation Set To Return Back To ECB Goal By 2018/2019; ECB Draghi Says
BRUSSELS (dpa-AFX) - Aided by the European Central Bank's monetary stimulus measures and other efforts, inflation in the euro area is expected to return to the bank's objective of below but close to 2 percent by 2018-2019, the European Central Bank President Mario Draghi said Wednesday.
In an interview with Spanish daily El País, Draghi said that the bank is firmly committed to preserve the very substantial degree of monetary accommodation to secure inflationary target.
The Governing Council would decide upon changing the size of asset purchase program and extension of purchases at the December 8 meeting, Draghi said.
"We can deliver the appropriate stance by different combinations of instruments, for instance the amount of monthly purchases or the length of time over which they take place," he said.
The bank's EUR 80 billion a month asset purchase program expires in March.
Although low interest rates affect the interest rate margins of some banks, they also have positive impact on bank profitability by aiding the recovery, reducing loan losses and increasing the valuation of assets, he told.
Copyright RTT News/dpa-AFX
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