herald

Friday 17 August 2018

Draghi ready to act on inflation

Europe

The European Central Bank is ready to use more unconventional tools to spur inflation and growth in the eurozone, the bank's President Mario Draghi has said.

The ECB president (right) said he expects more demand for a new ultra-long loan programme that gives cheap cash to banks when funding is offered again.

There was a smaller take-up of the initial loans than most analysts expected.

Mr Draghi said the ECB "remains fully determined to counter risks to the medium-term outlook for inflation".

"Therefore, we stand ready to use additional unconventional instruments within our mandate, and alter the size and/or the composition of our unconventional interventions," he added.

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