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European Central Bank head Mario Draghi says that the eurozone economy still faces “risks and uncertainties” despite stronger growth, and has cautioned that the bank needs to see an accompanying upward trend in inflation before it can end its bond-purchase stimulus.
Draghi said that higher inflation, not growth, is the “very clear condition for us to bring net asset purchases to an end.”
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He echoed earlier cautious comments by saying that monetary policy needs to be “patient, persistent and prudent.”
Inflation of 1.2 percent annually is short of the bank’s goal of just under 2 percent considered best for the economy.
The bank has said its 30 billion euros in monthly purchases will continue at least through September, but has given no fixed end date.