Arab Today, arab today ecb to intensify actions to boost inflation if necessary
Last Updated : GMT 21:48:36
Arab Today, arab today
Arab Today, arab today

President of the ECB Mario Draghi:

ECB to intensify actions to boost inflation if necessary

Arab Today, arab today

Arab Today, arab today ECB to intensify actions to boost inflation if necessary

President of the ECB Mario Draghi
New York - Arab Today

Mario Draghi said Friday that the European Central Bank would intensify efforts to support the eurozone economy and boost inflation toward its two percent goal if necessary.

Speaking one day after the ECB's moves to expand stimulus fell short of market expectations, the central bank president said that he was confident of returning to that level of inflation "without undue delay".

"But there is no doubt that if we had to intensify the use of our instruments to ensure that we achieve our price stability mandate, we would," he said in a speech to the Economic Club of New York.

"There cannot be any limit to how far we are willing to deploy our instruments, within our mandate, and to achieve our mandate," he said, according to the text of his remarks.

On Thursday the ECB sent equity markets tumbling, and reversed the euro's downward course, after it announced an interest rate cut that was less than investors had expected and held back from expanding the size of its bond-buying stimulus.

The bank cut its key deposit rate by a modest 0.10 percentage point to minus 0.30 percent, and only extended the length of its bond purchase program by six months to March 2017.

Critics said that was not strong enough action to counter deflationary pressures on the euro area economy.

Some analysts believed a desire for  stronger moves, like an expansion of bond purchases, was stymied by powerful, more conservative members of the ECB governing council, including Bundesbank chief Jens Weidmann.

But Draghi insisted that there was "very broad agreement" within the council for the extent of the bank's actions.

And, he added, it would do more if necessary: "There is no particular limit to how we can deploy any of our tools."

He acknowledged some market doubts that central banks are proving unable to reverse the downward trend in inflation, saying that, even if there is a lag to the impact of policies in place, they are working.

"I would dispute entirely the notion that we are powerless to reach our objective," he said.

"The evidence at our disposal shows, on the contrary, that the instruments we are currently deploying are having the effect intended."

Without them, he added, "inflation would likely have been negative this year."
Source: AFP

arabstoday
arabstoday

GMT 04:54 2017 Tuesday ,26 September

OPEC to discuss extending cuts, quotas

GMT 02:07 2017 Tuesday ,26 September

Inequality, low wages weaken global growth

GMT 01:54 2017 Tuesday ,26 September

China-backed fund to buy British chipmaker after US snub

GMT 14:40 2017 Monday ,25 September

OPEC to discuss extending cuts, quotas

GMT 05:19 2017 Thursday ,07 September

Oil price to stay at $50-$55 a barrel

GMT 02:17 2017 Monday ,04 September

UK will not be pressured by EU timetable: Davis

GMT 20:54 2017 Sunday ,03 September

BRICS turned into pushing power
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ecb to intensify actions to boost inflation if necessary Arab Today, arab today ecb to intensify actions to boost inflation if necessary

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ecb to intensify actions to boost inflation if necessary Arab Today, arab today ecb to intensify actions to boost inflation if necessary

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today Saudi clerics use Twitter, textbooks

GMT 10:13 2017 Tuesday ,26 September

Saudi clerics use Twitter, textbooks
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today China refuses visa to elderly India runner

GMT 15:01 2017 Tuesday ,26 September

China refuses visa to elderly India runner
Arab Today, arab today UAE to open its first nuclear reactor in 2018

GMT 19:11 2017 Tuesday ,26 September

UAE to open its first nuclear reactor in 2018
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Mai Kassab happy for participating in new film

GMT 09:33 2017 Friday ,22 September

Mai Kassab happy for participating in new film
Arab Today, arab today Botanical gardens a lifeboat

GMT 02:50 2017 Tuesday ,26 September

Botanical gardens a lifeboat

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 16:08 2017 Monday ,25 September

'World's heaviest woman' dies

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday