FRANKFURT, Germany — European Central Bank head Mario Draghi raised expectations Thursday that the central bank might step in and help lower the high borrowing costs that are putting pressure on government finances in Europe.
Draghi said Thursday in London that the bank would “do whatever it takes to preserve the euro” and added, “believe me, it will be enough.”
Stocks soared on the news Thursday morning. The Dow Jones industrial average was up 234 points to 12,913, and the broader S&P 500 index added 23 points at 1,361.
The central bank chief discussed the high borrowing costs being imposed on some countries’ bonds, saying that “they come within our mandate” — but only if those costs are stopping the central bank’s interest rate policies from being implemented throughout the 17-country eurozone.
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