Draghi announces progress in lending

European Central Bank president Mario Draghi said officials are seeing progress in lending as a slump in credit eases and surveys signal improvement in loan demands.

We are “seeing some progress now,” Draghi told lawmakers at the European Parliament in Brussels yesterday. “Credit flows are still subdued, but they decline at a lower rate.

“We also see from the bank lending survey, we see progress on that front. It’s still limited.”