European Central Bank President Mario Draghi predicted upon eurozone authorities to do more to encourage a faltering market with financial policy Thursday, as he detailed the ECB's most up-to-date raft of economic measures.
"Governments with financial space must behave in a successful and timely fashion," Draghi stated, just two weeks after Germany, the euro zone's biggest market, indicated it is targeting another stable national funding next year. The eurozone economy is confronting a protracted downturn, and inflation is very likely to remain clearly under the European Central Bank's medium-term goal, Draghi explained.
Crucial points from Draghi's opening announcement:
ECB cuts growth forecast to 1.1percent in 2019, 1.2percent in 2020; retains forecast of 1.4percent in 2021 unchanged
ECB reductions inflation prediction for 2019-2021 to 1.2percent in 2019, 1.0percent in 2020 and 1.5percent in 2021.
Draghi cites"prolonged existence of doubts linked to geopolitical aspects," and meager inflation expectations.