June 25 - ECB's Draghi says an exit from its accommodative monetary policy is still distant as inflation is low and unemployment high.(ROUGH CUT - NO REPORTER NARRATION)
ROUGH CUT - NO REPORTER NARRATION Mario Draghi says the European Central Bank is nowhere near exiting its bond buying strategy, citing low inflation and high unemployment. The ECB President's comments come after the US Federal Reserve became the first of the world's major central banks to lay out a plan for exiting its ultra-loose monetary measures. But Draghi said he does expect markets to support a recovery later this year. (SOUNDBITE) (English) EUROPEAN CENTRAL BANK PRESIDENT, MARIO DRAGHI, SAYING: "In terms of monetary policy, price stability is assured, and the overall economic outlook still warrants an accommodative stance, the exit from which by the way is still distant since inflation is low and unemployment is high." (SOUNDBITE) (English) EUROPEAN CENTRAL BANK PRESIDENT, MARIO DRAGHI, SAYING: "We see some signs of stabilisation sentiment, even though uncertainties remain. And we expect that monetary stimulus and improvements in financial markets will support a recovery later in the year." (SOUNDBITE) (English) EUROPEAN CENTRAL BANK PRESIDENT, MARIO DRAGHI, SAYING: "All policy makers - and I think that's the main lesson we get from the European Monetary Union - all policy makers have to recognise that we belong to the European Monetary Union together. And that policies as well as policy in action creates spill-overs for other members. This is an enormous responsibility for governments and of the economic policy makers."