ECB's Draghi: euro area economy is expanding robustly with stronger growth rates than previously anticipated and significantly above potential - comments to EU Parliament
- ECB remains fully committed to price stability objective
- We cannot yet declare victory on inflation front
- Not seeing any evidence of systemic credit-fueled bubbles
- Monetary policy will evolve in a fully data-dependent and time-consistent manner.
- Finalizing the banking reform package is crucial
- More confident that inflation will converge on goal
- Also, new headwinds have arisen from the recent volatility in the exchange rate, whose implications for the medium-term outlook for price stability require close monitoring.
- It is important to complete the architecture of the banking union by putting in place the agreed common backstop to the Single Resolution Fund and by establishing a European deposit insurance scheme