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Home BUSINESSEurozone interest rates to remain low, says ECB chief
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Thu, 25 Sep, 2014 12:00:28 AM
FTimes- Xinhua Report, Sept 25
 
File picture of Mario Draghi, president of the European Central Bank (ECB). Photo AFP-Lehtikuva.
Interest rates in the eurozone will remain at the present low level for an extended period, Mario Draghi, president of the European Central Bank (ECB), said Wednesday.
     
In an interview with French radio station Europe 1, Draghi said that monetary policy would take the state of the economy into consideration.
     
"I can say that the ECB governing council is unanimous in its commitment to use the available instruments within its mandate to bring inflation back to close but below 2 percent," he added.
     
ECB had lowered its key interest rate earlier this month to a record low of 0.05 percent.
     
Draghi said the main enemy for Europe is unemployment, including youth unemployment. "This is caused by a broader sentiment of lack of confidence in the future and lack of trust between member states, and we have to fight this," he said.
     
From October, the central bank plans to buy loan securities and bonds on a large scale to stimulate the flow of credit into the economy.  
 
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