Eurozone recovery ‘subdued and uneven’


Associated Press
October 10, 2013

European Central Bank head Mario Draghi says the eurozone economy will stay “subdued and uneven” for a while and emphasized that the bank has room to cut interest rates further to help growth.

Draghi said in a speech Thursday in New York that the upturn will be weak “for as long as it is meaningful for us to look into the future.”

Analysts say Draghi wants markets to know that the bank is nowhere near withdrawing its stimulus efforts, unlike the U.S. Federal Reserve. The Fed’s discussion of ending its bond-purchase stimulus has unsettled markets around the globe.

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