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The insurance companies do not refer to the key policy rate when they send their statements. We can only control that rate. Long-term interest rates are determined largely by global financial markets.

Mario Draghi

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Mario Draghi
Age: 77
Born: 1947
Born: September 3
Banker
Economist
Politician
University Teacher
The Eternal City
Policy
Statements
Control
Send
Company
Companies
Term
Global
Refer
Interest
Determined
Rates
Long
Rate
Insurance
Financial
Markets
Keys
Largely

More quotes by Mario Draghi

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Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough.
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Productivity growth is the only possible way to achieve prosperity.
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In the European context tax rates are high and government expenditure is focused on current expenditure. A good consolidation is one where taxes are lower and the lower government expenditure is on infrastructures and other investments.
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Europe's financial system is fragmented, although the gap in funding costs for banks within the euro area is no longer as wide as it was two years ago. But in lending the differences are still very large, and in some countries the credit flow is disrupted.
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Interest rates do not have to be identical across the whole euro area, but it is unacceptable if major differences arise from broken capital markets or concern about a euro area break-up.
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In Latin you say: Repetita iuvant - to repeat is beneficial. The fewer changes made in a country, the more often I repeat my messages. And it works.
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I trust the people who are working with me. I delegate.
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