ECB's Draghi tells G20 rates to stay low until growth convincingly picks up
- Banks, telecoms lead Wall Street up; another Dow record
- Western Digital (WDC) Raises Q2 Outlook
- bluebird bio (BLUE) to Offer $200M of Common Stock
- Dave & Buster's Entertainment (PLAY) Tops Q3 EPS by 11c, Raises FY Revenue Guidance
- After-Hours Stock Movers 12/06: (PLAY) (ANTH) (WDC) Higher; (AVAV) (ESV) (BLUE) Lower (more...)
European Central Bank (ECB) President Mario Draghi addresses the European Parliament's Economic and Monetary Affairs Committee in Brussels, Belgium September 26, 2016. REUTERS/Yves Herman
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
WASHINGTON (Reuters) - European Central Bank interest rates will stay low until euro zone economic growth picks up in a convincing way, ECB head Mario Draghi told finance ministers and central bank governors from the world's 20 biggest economies (G20) at on Thursday, a G20 source said.
Draghi and other world financial leaders were attending a dinner in Washington on Thursday evening to discuss the global economy.
In an apparent reference to a story on Bloomberg from Oct 4 on a consensus building in the ECB on tapering quantitative easing, Draghi told the G20 dinner it would be a mistake to speculate about tightening of monetary policy, the G20 source said.
Draghi also sought to reassure the G20 that no new banking crisis was brewing in Europe and that there was no problem with solvency in the European banking sector.
He noted that banks' capital adequacy ratios were more than satisfactory, but that bank profitability was a problem, the G20 official said.
(Reporting By Jan Strupczewski)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Sony to release as many as six mobile phone games next year
- Security forces in Kazakhstan conduct special operation in Aktobe
- Credit Suisse to cut costs further, lowers targets
Create E-mail Alert Related CategoriesReuters
Related EntitiesEuropean Central Bank
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!