November 20, 2017 / 2:50 PM / 2 years ago

Easy ECB policy needed to boost wages: Draghi

European Central Bank (ECB) President Mario Draghi speaks during the 27th European Banking Congress at the Old Opera house in Frankfurt, Germany November 17, 2017. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - The euro zone’s recovery is firm but the European Central Bank needs to keep the money taps open to help boost salaries, the ECB’s President Mario Draghi said on Monday.

“The improvements in labor markets that we have observed still need time to translate into more dynamic wage growth,” Draghi told the European Parliament. “The re-calibration of our policies for the period beyond the end of this year is meant to preserve the degree of monetary stimulus that is still necessary to secure a sustained return of inflation.”

Reporting By Francesco Canepa; Editing by Peter Graff

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