ECB’s Draghi Dismisses Talk of Early Taper

European Central Bank President Mario Draghi quelled any fears of an earlier-than-expected end to its bond-buying plans, as he upgraded short-term inflation forecasts.

Draghi said the ECB’s Governing Council was not even discussing an “exit strategy” for its 60 billion euro ($67 billion)-a-month program, adding that there was still a “long way to go” before the central bank reached its inflation target of close to 2 percent.

“We have to look through the medium term, until the objectives has been reached in a sustained fashion,” Draghi said, speaking at the ECB’s monthly press conference, following the bank’s rate decision.