DUBLIN (Reuters) – European Central Bank President Mario Draghi downplayed a recent string is weak economic data, arguing on Thursday that the euro zone’s broad-based expansion is set to continue.
“While some sector-specific data and selected survey results have been somewhat weaker than expected, the latest incoming information overall suggests that the broad-based expansion in the euro area, and in Ireland, is set to continue,” Draghi told Irish lawmakers in a hearing.
Draghi also reaffirmed the ECB’s plans to wind down bond purchases, also known as quantitative easing, by the close of the year and to keep rates at a record low at least through next summer.
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