Policy was not meant to address market expectations: Draghi
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Mario Draghi, President of the European Central Bank, answers questions after speaking at the Economic Club of New York during a luncheon in the Manhattan borough of New York December 4, 2015. REUTERS/Lucas Jackson
NEW YORK (Reuters) - European Central Bank President Mario Draghi on Friday said the central bank's policy decision this week was designed to meet its own objectives, not market expectations.
"The package was not meant to address market expectations, it was meant to achieve our objective," Draghi said in response to a question following a speech in New York.
The ECB's latest stimulus package on Thursday, which included a small deposit rate cut and an extension of its asset purchase program, disappointed investors who had hoped for more radical action, and sent European markets into a tailspin.
(Reporting By Dan Burns; Editing by Chizu Nomiyama)
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