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MADRID, SPAIN (MAY 24, 2017) (REUTERS) ****WARNING CONTAINS FLASH PHOTOGRAPHY*** VARIOUS OF ECB PRESIDENT MARIO DRAGHI ARRIVING AT NEWS CONFERENCE WITH BANK OF SPAIN GOVERNOR LUIS LINDE DRAGHI AND LINDE POSING FOR PHOTOGRAPHERS LINDE TALKING TO DRAGHI MEDIA DRAGHI TAKING A SEAT (SOUNDBITE) (English) ECB PRESIDENT, MARIO DRAGHI, SAYING: "When we introduced unconventional policy instruments in order to secure a return of inflation towards our objective, we were aware that those new instruments could result in somewhat more pronounced side effects than conventional instruments. These side effects have remained contained, but we take them into account in the formulation of our policy, in the sense that we try to minimise them, without prejudice to our ability to achieve our objective." AUDIENCE (SOUNDBITE) (English) ECB PRESIDENT, MARIO DRAGHI, SAYING: "Our current assessment of the side effects suggest therefore that there is no reason to deviate from the indications we have been consistently providing in the introductory statement to our press conferences. More generally, our monetary policy actions in pursuing our mandate will benefit from the completion of the banking union, through the creation of a European deposit insurance scheme, the third pillar of the banking union, as well as a common backstop for the Single Resolution Fund." AUDIENCE CLAPPING, DRAGHI AND LINDE SHAKING HANDS DRAGHI WAVING AS HE DEPARTS WITH LINDE
Dateline: 2017

Ecb's Draghi Sees No Need To Deviate From Policy Path

Item ID: 110576903

By: Reuters

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