Draghi Says Ecb Won't Accept İnflation Target Defeat

President of the European Central Bank (ECB) Mario Draghi said on Wednesday that Eurozone's central bank will "not accept the defeat" on inflation target. Speaking at the Generation Euro Students' Award ceremony, Draghi pointed out that it would be very damaging for the bank's credibility if it now changes the inflation target.

Draghi's remarks come after the ECB reaffirmed commitment last month to the 2.0 percent inflation after deciding at the last meeting to keep the interest rates unchanged.

When asked about possible consequences of a hard Brexit scenario, Draghi pointed out that, apart from the expected consequences in aggregate economic data, negative impact will likely be felt in supply chains, especially in economic close to the United Kingdom. - Istanbul