Draghi cites persistence of prominent downside risks

Thursday, 24. October 2019 14:34

Risks for the economy remain tilted to the downside, the European Central Bank's President Mario Draghi said on Thursday. Speaking at the final press conference before the end of his term, he said inflation is seen declining further before rising again at the end of the year. The top rate-setter highlighted "the persistence of prominent downside risks."

Policymakers are ready to adjust all instruments as appropriate to stimulate inflation's return higher to target 2%, he stressed. Draghi went further to point to the ongoing weakness of international trade and global uncertainties. Unfavorable factors are dampening investment growth and price pressures are "generally muted" with expectations at low levels, he added.

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