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Draghi urges governments to play part in boosting growth and inflation

Thursday, Jun 09 2016
The Wall Street Journal reported that European Central Bank President Mario Draghi urged European governments to play their part in boosting growth and inflation in the region, warning that a lack of economic reforms is making the ECB’s job harder. “If other policies are not aligned with monetary policy, inflation risks returning to our objective at a slower pace,” Mr. Draghi said in a speech to policy makers in Brussels.
The ECB has unleashed a sweeping range of stimulus measures in recent years, from negative interest rates to more than a trillion euros of bond purchases. But inflation remains far short of the central bank’s target of just below 2%, coming in at minus 0.1% last month. The ECB “can act decisively to support demand, to stabilize inflation expectations and to avert [knock-on] effects on wages and prices, which is exactly what the ECB has done over the past two years,” Mr. Draghi said. But government policies also influence the speed of the economic recovery, he said.
 
Euro is currently being traded few points below 1.1340 level. Pair is likely to find support around 1.13 handle and resistance above 1.1380 level. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
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