Mario Draghi: ECB’s focus on growth

Stalling recovery would be the greatest risk facing the eurozone’s economy, the head of the ECB has said, underscoring, before an important policy decision next week, the ECB’s focus on supporting growth.

The ECB is due to decide next week on whether to extend beyond March its €1.74trn bond-buying programme, the centre piece of its much-criticised stimulus policy, some say has created bond and property price bubbles and should be wound down.

Mario Draghi’s comments, in response to a question from an EU parliamentary committee about the risks to financial stability from ultra-easy monetary policy, suggest the ECB remains firmly focused on stimulating growth.