ECB's Draghi does not see financial stability risks
Low interest rates and other policy measures are not storing up trouble for the future in the single currency bloc, rather the opposite, so no change in policy guidance is required, the European Central Bank's boss said.
Speaking at a conference hosted by Spain's central bank, Mario Draghi said those measures were leading to an increasingly broad-based recovery by countries and sectors.
That, in turn, contributed to greater financial sector resilience, he said.
Admittedly, some localised areas required "close monitoring and vigilance" but there had been no widesperad emergence of imbalances, he said.
Likewise, given the multiple countries belonging to the euro and how national financial markets were split off from each other, there was a greater likelihood that asset purchases would result in negative interest rates and might have "unwarranted" side-effects.
Yet so far those had been limited, so there was no reason to "deviate from the indications we have been consistently providing in the introductory statement to our press conferences," Draghi said.