Preserving free and open
trade is crucial to global growth, European Central Bank
Presient Mario Draghi told the 37th Meeting of the International
Monetary and Financial Committee (IMFC) on Friday.
The ECB chief said the eurozone has enjoyed "robust" growth
which has spurred "significant improvements" in the labour
market and the unemployment rate has dropped to a post-2008 low.
He said the positive moment would continue.
The condition of the eurozone banking system has continued to
improve, Draghi told the IMFC.
But despite the "positive developments some structural
challenges continue to weigh on the prospects of profitability
of the banks", he said.
Draghi said non-performing loans (NPLs) "remain elevated in
some countries".
A wide range of monetary stimulus is still necessary to
sustain inflation, Draghi said.
He said the bond-acquisition programme known as quantitative
easing (QE) would go on at the current rate of 30 billion euros
until the end of September 2018, and beyond if necessary.
In any case it will continue until the ECB sees a sustained
adjustment of inflation in line with its objectives, Draghi
added.
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