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Draghi says ready to act if needed

Thursday, January 09 14:15:24

The European Central Bank has a sizeable range of instruments at its disposal if it needs to loosen policy further, and it remains ready and able to act, ECB President Mario Draghi said today.

He emphasised that keeping inflation from being too high or too low was a major driver, as was ensuring that there was not unwarranted tightening due to money market rates.

"Let me be absolutely clear... We have a mandate to maintain price stability - in both directions," he told a news conference after the ECB kept interest rates unchanged at 0.25 percent.

He would not say what actions the bank may take.

"We have several instruments. The choice will depend on what happens," Draghi said.