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ECB could act on low inflation
24 Apr 2014 14:02
European Central Bank President Mario Draghi gave his clearest indication yet today that the ECB could print money to buy assets if inflation slows.
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The ECB chief identified a rise in the euro as a potential trigger for action.
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While stressing that the ECB sees inflation remaining low for a prolonged period before rising towards its target of just below 2%, Draghi set out three scenarios for action.
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Reiterating the bank's message that "the exchange rate is an increasingly important factor in our assessment of the outlook for price stability", he said that all else being equal, a rise in the euro could also prompt the ECB to act.
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Such a rise in the exchange rate would imply a tightening of monetary conditions with a downward impact on inflation, and so pose a potential threat to economic recovery in the 18 countries that use the euro, Draghi said.
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"If so, this would call for policy action," he added.
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