ECB takes QE gamble as risks grow
Mario Draghi described the ECB’s view about the outlook for the euro zone economy as representing 'continued confidence with increasing caution'
Mario Draghi said risks to the euro area economy are worsening even as he called time on the European Central Bank’s flagship deflation-fighting tool.
The ECB president told reporters in Frankfurt on Thursday that while risks are still “broadly balanced”, they are now “moving to the downside” because of a range of concerns over geopolitics, trade protectionism andmarket volatility.
The significant change in language pushed the euro lower and was reflected in updated economic projections thatlowered the immediate outlook for inflation and growth.
