ECB's Draghi cautions future of global economy uncertain

The future of the global economy remains uncertain and there are questions about Europe`s ability to weather new shocks, the president of the European Central Bank said in its annual report on Thursday

Reuters| Updated: Apr 07, 2016, 14:07 PM IST
ECB's Draghi cautions future of global economy uncertain

Frankfurt: The future of the global economy remains uncertain and there are questions about Europe`s ability to weather new shocks, the president of the European Central Bank said in its annual report on Thursday.

"2016 will be a no less challenging year for the ECB. We face uncertainty about the outlook for the global economy. We face continued disinflationary forces. And we face questions about the direction of Europe and its resilience to new shocks," Draghi wrote in the report.

Draghi said the ECB`s quantitative easing, where it effectively prints money to buy chiefly state bonds, would boost economic output or gross domestic product in the euro zone by around 1.5 percentage points between 2015 and 2018.