Draghi described the acceleration of underlying inflation in the eurozone as "quite active" and expressed confidence that wage growth would continue to accelerate.
But he reiterated the ECB's commitment to keep interest rates at their current low until late summer, implicitly rejecting calls by some policymakers to accelerate the pace of tightening.
Draghi told the European Parliament that "the Governing Committee believes that inflation is approaching the goal of sustained adjustment and its path has been and will continue to depend on the term structure of interest rates, which reflects the expectation that policy interest rates will remain stable for a longer period after December 2018."
Investors and even policymakers have different interpretations of the ECB's information on interest rates, some excluding the possibility of a rise in interest rates by the fall of 2009, others believing it might be in the summer.
In an exclusive interview Sunday, Austrian Central Bank President Novotni said he was happy to see the ECB raise its overnight deposit rate from minus 0.4% to minus 0.2%.

<>Delagi, President of the European Central Bank, called the "active" inflation re

 

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