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'We aren't where we want to be yet,' ECB's Draghi says, leaving policy unchanged
July 20, 2017 / 1:03 PM / 4 months ago

'We aren't where we want to be yet,' ECB's Draghi says, leaving policy unchanged

FRANKFURT (Reuters) - European Central Bank policymakers were unanimous in choosing not to change their guidance for monetary policy and not to set a date for discussing changes to its stimulus program, ECB President Mario Draghi said on Thursday.

European Central Bank (ECB) President Mario Draghi addresses a news conference at the ECB headquarters in Frankfurt, Germany July 20, 2017. REUTERS/Ralph Orlowski

He also said that inflation, the target of much of the stimulus, was not where the ECB wanted it to be.

“We need to be persistent and patient because we aren’t there yet,” he told a news conference.

“We also were unanimous in communicating no change to the forward guidance and also we were unanimous in setting no precise date for when to discuss changes in the future -- in other words, we simply said that our discussions should take place in ... the autumn.”

Reporting by Jeremy Gaunt; Editing by Gareth Jones

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