Mario Draghi said the European Central Bank was “ready to do its part” to make the eurozone more resilient, in the latest indication that it could unveil further stimulus measures next month.
In his first public speech since European banks’ stocks were caught up in a brutal sell-off last week, the ECB president said the central bank would pay close attention to the impact of the recent falls in oil and commodities prices, as well as the ability of banks to pass on the ECB’s monetary policy.
“If either of these two factors entail downward risks to price stability, we will not hesitate to act,” he said in a speech to the European Parliament. The euro fell 1.1 per cent to $1.1138 following Mr Draghi’s comments.
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