ECB Needs Help from Other Policy Areas as ‘Lower Bound’ Looms

The European Central Bank’s monetary stimulus needs to be complemented by action in other policy areas as the ECB is already operating near a “lower bound” where interest rates cannot be cut any farther, bank president Mario Draghi said on Wednesday.

Calling for more academic research into the interplay between policies, Mario Draghi said: “To my mind it is increasingly evident that, when we operate near the lower bound, such interactions are heightened.”


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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.