June 27, 2017 / 8:18 AM / 4 months ago

ECB's Draghi says stimulus still needed as even economy recovers

SINTRA, Portugal, June 27 (Reuters) - The euro zone still needs “considerable” monetary support from the European Central Bank even as its economy recovers steadily and inflation picks up, ECB President Mario Draghi said on Tuesday.

“All the signs now point to a strengthening and broadening recovery in the euro area. Deflationary forces have been replaced by reflationary ones,” Draghi said at the ECB’s annual policy forum in Sintra, Portugal.

“However, a considerable degree of monetary accommodation is still needed for inflation dynamics to become durable and self-sustaining.” (Reporting By Francesco Canepa and Balazs Koranyi)

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