BRUSSELS — The European Central Bank is growing increasingly confident that inflation will rise back to its target, but patience is still needed, not least to make sure the economic recovery lasts, ECB President Mario Draghi said on Monday. Draghi singled out currency volatility as a source of uncertainty that required monitoring and argued that "ample" ECB accommodation was still needed, because a premature and hasty move could unravel its work. "Overall, we are becoming more confident that inflation will eventually head to levels in line with our inflation aim, but we also know that a very substantial degree of monetary accommodation is still needed for the upward inflation path to materialise," Draghi said. "We also have to be sensitive to the danger of not halting a recovery through hasty monetary-policy decision making," Draghi told the European Parliament's committee on economic affairs in Brussels. "We can't afford hasty moves."

Source: New York Times September 25, 2017 13:20 UTC