Draghi – ECB ready to do its part

ECB President Mario Draghi, in his introductory statement at the Quarterly Hearing before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Brussels, said the bank is ready to its part (in propping up economy and inflation).

Key Quotes

Recovery progressing at moderate pace

Will analyze monetary policy transmission in light of market turmoil

Will review, possibly reconsider monetary policy stance in March

Will examine the pass through of low inflation

Won't hesitate to act if price stability at risk

Since early December, a general deterioration in market sentiment has taken root and has gathered pace over the last week

We have witnessed increasing concerns about the prospects for the global economy