Mario Draghi, the outgoing European Central Bank President, announced a host of stimulus measures in his penultimate policy session to boost the euro area economy as the bank slashed the growth and inflation forecasts.
Policymakers reiterated the need for a highly accommodative stance of monetary policy for a prolonged period of time, Draghi said in his introductory statement. The Governing Council was unanimous in its view that fiscal policy should become the main instrument to boost the euro area economy, he said.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.