Mario Draghi of E.C.B. Predicts an Improved Economy When Stimulus Program Begins Monday
The European Central Bank will begin its big new stimulus program on Monday, the bank’s president, Mario Draghi, said. He predicted improvements in the economy and in the eurozone’s inflation picture as a result of the effort.
The starting date, announced on Thursday, was one of many details the financial markets had been awaiting since the central bank announced in January that it would embark on a program of large-scale asset purchases intended to fix the collapse in consumer prices.
At a news conference in Cyprus, which is still recovering from a severe banking crisis two years ago, Mr. Draghi appeared unruffled by recent political turmoil in the eurozone, provoked by a change in government in Greece. Instead, he offered one of his most optimistic assessments in months of the eurozone economy — and gave the central bank much of the credit.