ECB's Draghi reportedly told EU leaders that risks of recession is still quite low

Author: Justin Low | Category: Central Banks

Reuters reports, citing unnamed sources

  • ECB sees protracted weakness and uncertainty in the economy
  • International trade is the main reason for the slowdown
  • In this situation, substantial degree of monetary policy accommodation is needed
The report says that Draghi spoke to European leaders yesterday at the summit and briefed them on the central bank's views and economic outlook. His comments aren't really running away from the script earlier this month but prolonged weakness and further dismal data like what we saw earlier today may just change that in the coming months.

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