ECB's money printing already helping recovery

Rome - Bond-buying by the European Central Bank (ECB) will reinforce the eurozone's economic recovery, its president, Mario Draghi, said on Thursday, adding that there was already evidence that the scheme was taking effect.

"Monetary policy is reinforcing the cyclical recovery. I insist in saying 'cyclical' because this recovery is not structural," he told a parliamentary committee hearing, in a reference to long-term problems such as unemployment.

Draghi told lawmakers in Italy's parliament that recent data releases "are comforting about the contribution that monetary policy is supplying to reinforce the cyclical recovery".