Draghi says euro zone still needs ECB support
Central Bank chief's comments come ahead of key December meeting
Mario Draghi has said a recovery in the 19-nation euro area is not yet strong enough to deliver sustained reflation, andcurrent monetary support will be a “key ingredient” for the economic outlook in the coming years.
“We do not yet see a consistent strengthening of underlying price dynamics,” the European Central Bank president said in a speech in Frankfurt. “Even if there are many encouraging trends in the euro area economy, the recovery remains highly reliant on a constellation of financing conditions that, in turn, depend oncontinued monetary support.”
