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Spend more if you want ECB to raise rates, Draghi tells governments

Spend more if you want ECB to raise rates, Draghi tells governments
FILE PHOTO: Mario Draghi, President of the European Central Bank (ECB) holds a news conference on the outcome of the Governing Council meeting at the ECB headquarters in Frankfurt, Germany April 10, 2019. REUTERS/Kai Pfaffenbach -
Kai Pfaffenbach(Reuters)
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MILAN (Reuters) – Euro zone governments can help the European Central Bank raise interest rates sooner if they loosen their own purse strings to support the economy, ECB President Mario Draghi said on Friday.

“A more active fiscal policy in the euro area would thus make it possible to adjust our policies more quickly, which we are well aware are having adverse effects on certain sectors of society and certain intermediaries,” Draghi told an event in Milan.

(Reporting By Giulio Piovaccari; Writing by Francesco Canepa in Frankfurt)

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