Draghi Preaches ECB Patience With Subdued Inflation

The ECB decided to keep interest rates unchanged and continue asset purchases at €60 billion monthly until at least December 2017. Economic growth in the euro area is improving, but inflation remains subdued, necessitating continued monetary accommodation. GDP growth projections have been revised upwards, while inflation forecasts have been adjusted downwards due to lower oil prices. The ECB is prepared to adjust its asset purchase program if needed. Structural reforms and fiscal policies are essential to bolster economic resilience and growth.

What is the projected annual real GDP growth for the euro area in 2017?

What are the expected trends in underlying inflation according to the ECB?

What measures are suggested to strengthen economic growth in the euro area?

What is the significance of the Stability and Growth Pact as mentioned in the text?