ECB ready to act with all instruments, if necessary: Draghi

Euro zone growth is gaining momentum but uncertainty is high and the inflation outlook is subdued so the European Central Bank stands ready to act if necessary, ECB President Mario Draghi said on Tuesday.

“Uncertainty remains high and downside risks are still significant due to the continued fragile state of the global economy and geopolitical developments,” Draghi told the European Parliament’s economy committee.

“We will closely monitor the evolution of the outlook for price stability,” he said. “We stand ready to act by using all the instruments available within our mandate, if necessary, to achieve our objective. In particular, the ECB is ready for all contingencies following the UK’s EU referendum.”

Source: Reuters