‘We’ll intensify use of policy tools if needed’ – ECB’s M.Draghi

FXStreet (Edinburgh) - At his speech at the 40th Anniversary Conference of Prometeia (Bologna, Italy), ECB’s President Mario Draghi has reiterated the readiness of the central bank to intervene in case of need in order to reach price stability. Furthermore, Draghi expects inflation in the euro area to clinch its target without undue delays following the recent re-assessment of policy tools.

He has also defended the current loose monetary policy, emphasizing that ongoing conditions have motivated banks to restart lending.

EUR/USD remains apathetic around 1.0950/60 following Draghi’s appreciations.