QE still necessary, said ECB’s Draghi

“The recovery of the euro area economy gained momentum at the start of the year. It is expected to proceed at a moderate but steady pace, supported by solid domestic demand and the effective pass-through of our monetary policy measures to the real economy,” said ECB President Mario Draghi in his second monetary dialogue this year with the European Parliament’s Economic and Monetary Affairs Committee. As for Brexit, ECB stays ready for contingencies following UK referendum, stressed Draghi.