European Central Bank President Mario Draghi said on Thursday that policymakers were confident regarding the economy and that the inflation is gradually approaching its aim of "below, but close to 2 percent".
Draghi also expressed confidence that his home country Italy and the European Commission would reach an agreement over budget finances. He also urged the private sector to prepare for a hard Brexit, saying such an event could cause "financial uneasiness". Earlier on Thursday, the central bank left its key interest rates unchanged for a third consecutive policy session and reaffirmed that it plans to end its massive asset purchase plan, in place since 2015, by the end of December.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.