AZ City or ZIP
Movies
Dining
TV
NewsSportsMoneyEntertainmentStyleTravelMomsPetsWeatherTrafficPhotoVideo
News

May 29, 10:48 AM EDT

Eurozone's top banker: stimulus needed despite higher growth

AP Photo
AP Photo/Michael Probst

Multimedia
A district summary of the Beige Book
Measuring economic stress by county nationwide
Mall malaise: shoppers browse, but don't buy
Unemployment by the numbers
Family struggles with father's unemployment
Saying an affordable goodbye
Hard times hit small car dealer
Latest Economic News
Eurozone's top banker: stimulus needed despite higher growth

US growth in Jan.-March upgraded to still-slow 1.2 pct. rate

Cyprus' economy expected to pick up speed over next 2 years

Japan inflation edges up in April as oil prices rebound

How food stamp cuts could ripple through the economy

Why Trump's budget plan wouldn't likely accelerate growth

Macron tries to sell plan to reform France's labor market

German business confidence hits 26-year high in May

Puerto Rico seeks court's help to save public pension system

The Latest: Mogherini warns against US cuts in UN funding

Interactives
Greece's Debt Threatens to Spread
State budget
gaps map
Auto industry problems trickle down, punish Tennessee county
Women give old Derby hats a makeover in tough economy
S.C. town deals with highest unemployment in South
How mortgages were bundled and sold as securities
Tracking the $700 billion financial bailout
Tracking the year's job losses
State-by-state foreclosures since 2007
Credit crisis explained
Presidents and their economic legacies
Lexicon of the financial crisis
Americans' addiction to debt

BRUSSELS (AP) -- The head of the European Central Bank says while the economy of the 19-nation eurozone is improving, it still needs substantial stimulus.

At a parliamentary hearing Monday in Brussels, Mario Draghi said "the economic upswing is becoming increasingly solid and continues to broaden across sectors and countries."

However, he says, wages are not growing enough to push inflation back up to healthy levels.

Draghi says "overall, we remain firmly convinced that an extraordinary amount of monetary support ... is still necessary."

The ECB is pumping 60 billion euros ($67 billion) a month into the eurozone economy to support lending and growth. Whether it signals a tapering off in that program will be the focus of its next meeting on June 8.

© 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use.