Draghi Boxed In by Unforgiving World Dragging Down Inflation
- Euro-area economy probably grew 0.3% in fourth quarter
- Inflation outlook getting bleaker as ECB reviews stimulus
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It’s an unforgiving world, according to Bank of England Governor Mark Carney. Mario Draghi would probably be inclined to agree.
As the European Central Bank president pumps billions of euros of stimulus into the economy every month, he’s seeing continued euro-area expansion and a slow decline in unemployment. But he’s also faces outside forces including an emerging market-led slowdown and an oil-price slump that threaten to drag inflation back below zero.