Supervision bolsters monetary policy transmission – Draghi
No sign of housing bubble developing across eurozone as a whole, ECB president says
Stronger supervision of eurozone banks has strengthened the transmission of the European Central Bank’s (ECB) monetary policy, argued Mario Draghi in a speech on November 7.
The tougher regime brought in since the creation of the Single Supervisory Mechanism has supported monetary policy by reducing the chances of financial instability in both the bank and non-bank sectors, the ECB president said.
In the eurozone, “we currently see no signs of credit-fuelled housing bubbles, which are at the
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