(MENAFN) European Central Bank President Mario Draghi said that the unconventional monetary policy is a success although gaps in understanding the relatively new tools remain.
He confirmed that central banks need to carefully weigh their policy steps, giving up their defense of obsolete approaches while acknowledging gaps in their knowledge of how new policies work.
However, EU's economic growth is robust and accompanied by anemic inflation, which raised concerns over the validity of older doctrines on inflation.
Draghi said: "Well, for policymakers, it is not that simple, and research helps us to decide whether a change in the facts deserves a policy response or, as we say, we should look through it."
MENAFN2308201700450000ID1095763037
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.