Frankfurt — European Central Bank president Mario Draghi called for continued stimulus for the eurozone even as the economy enters a new phase in its upturn, saying support was still needed to entrench the trend. "All the signs now point to a strengthening and broadening recovery in the euro area — deflationary forces have been replaced by reflationary ones," the ECB president said on Tuesday in Sintra, Portugal. "However, a considerable degree of monetary accommodation is still needed for inflation dynamics to become durable and self-sustaining. "So for us to be assured about the return of inflation to our objective, we need persistence in our monetary policy." The comments at the annual ECB Forum reflect the intensifying public debate over whether the central bank should continue pumping liquidity into the financial system after more than four years of economic growth and improving resilience. Policy makers did not use their latest policy meeting to discuss whether to wind down th...
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