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Draghi says ECB to act quickly to raise inflation if needed

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Staff writer ▼ | November 23, 2015
European Central Bank (ECB) President Mario Draghi said the ECB would act quickly to raise inflation if needed.
Mario Draghi
Europe   With cautious confidence
Speaking at the European Banking Congress 2015, Draghi said, "If we decide that the current trajectory of our policy is not sufficient to achieve our objective, we will do what we must to raise inflation as quickly as possible."

The ECB would assess the strength and persistence of the factors that are slowing the return of inflation towards 2 percent, the target level of the central bank, at its governing council meeting in December.

"If we conclude that the balance of risks to our medium-term price stability objective is skewed to the downside, we will act by using all the instruments available within our mandate," said Draghi.

According to Draghi, the euro area economy is responding to the measures as expected. "...and today we can look at our prospects with cautious confidence," he said.

He reiterated that the ECB has the tools available to provide the appropriate degree of monetary stimulus.