FRANKFURT, Aug 23 (Reuters) - Unconventional monetary policy has been a success on both sides of the Atlantic, but gaps in understanding the relatively new tools remain, requiring rigorous research, European Central Bank President Mario Draghi said on Wednesday.
“Policy actions undertaken in the last 10 years in monetary policy and in regulation and supervision have made the world more resilient. But we should continue preparing for new challenges,” Draghi said in Lindau, Germany.
“A large body of empirical research has substantiated the success of these policies in supporting the economy and inflation, both in the euro area and in the United States,” Draghi said. (Reporting by Balazs Koranyi, editing by Larry King)