QE proving its worth as economy is on track as projected: ECB chief

Frankfurt

MARIO Draghi has said that monetary policy stimulus is filtering through to the economy as planned, as he insisted the European Central Bank (ECB) needs to see its bond-buying plan through to the finish.

"The asset purchase programmes are proceeding well," the ECB president said at a press conference in Frankfurt on Wednesday, after officials kept interest rates on hold. He unveiled economic forecasts for a pick-up in growth and inflation in the next three years similar to the outlook from March. "Reaching our objectives is conditional on the full implementation of our monetary policy stance."