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ECB needs help from other policy areas as 'lower bound' looms

Reuters
European Central Bank (ECB) President Mario Draghi reacts while addressing the European Parliament's Economic and Monetary Affairs Committee in Brussels, Belgium September 26, 2016. REUTERS/Yves Herman

FRANKFURT (Reuters) - The European Central Bank's monetary stimulus needs to be complemented by action in other policy areas as the ECB is already operating near a "lower bound" where interest rates cannot be cut any farther, bank president Mario Draghi said on Wednesday.

Calling for more academic research into the interplay between policies, Mario Draghi said: "To my mind it is increasingly evident that, when we operate near the lower bound, such interactions are heightened."

(Reporting By Francesco Canepa)