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Maintains A Bullish Tone

MNI (London)
By Christian Vits
     FRANKFURT (MNI) - Price pressures in the euro area will gradually move
upwards in line with the robust economic expansion, European Central Bank
President Mario Draghi said Monday.
     "We anticipate that headline inflation will resume its gradual upward
adjustment, supported by our monetary policy measures. At the same time,
uncertainties continue to prevail," Draghi told a hearing at the European
Parliament in Brussels.
     "In particular, the recent volatility in financial markets, notably also in
the exchange rate, deserves close monitoring with regard to its possible
implications for the medium-term outlook for price stability," he added.
     While the strong momentum of the euro area economy has "clearly
strengthened" the ECB's confidence in the inflation outlook, patience and
persistence with regard to monetary policy is still needed for inflation to
sustainably return to levels of below, but close to, 2%, Draghi said.
     The evolution of inflation remains "crucially conditional" on an ample
degree of monetary stimulus provided by the full set of the bank's monetary
policy measures, Draghi noted. 
     This applies to the ECB's "net asset purchases, the sizeable stock of
acquired assets and the forthcoming reinvestments, and our forward guidance on
policy interest rates."
--MNI Frankfurt Bureau; +49 69 97782671; email: christian.vits@marketnews.com
[TOPICS: M$X$$$,MC$$$$,MT$$$$,M$$EC$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com