FRANKFURT – The euro zone economy faces near term challenges so highly accommodative monetary policy for a prolonged period remains necessary, Christine Lagarde, the bank’s likely next president said on Wednesday.
Although unconventional measures to stimulate growth are needed, the ECB also needs to be mindful of the negative side-effects of these tools, Lagarde, who has been nominated to succeed Mario Draghi from Nov. 1, told the European Parliament’s committee on economic affairs.
(Content & Photos Syndicated Via Reuters)
(Reporting by Balazs Koranyi; Editing by Catherine Evans)