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The European Central Bank (ECB) President Mario Draghi said today at the ECB press conference:
- The ECB could ease monetary policy in June to tackle low inflation, but the ECB wants to review new staff economic projections first (Mario Draghi has not specified what kind of stimulus measures could be added by the ECB. Different stimulus measures are possible like further cut in interest rates, new liquidity support for banks or quantitative easing);
- Food, energy prices, the strong euro and weak domestic demand are pushing down inflation;
- The European economy is “recovering moderately”;
- Labour markets are showing the first signs of improvement;
- The ECB is monitoring very closely the exchange rate of the euro;
- Inflation is expected to remain at the current low level in the coming months;
- Deflation risk has not increased;
- Low inflation rate in the context of strong euro is a cause for concern;
- The strong euro represents a risk to growth;
- The exchange rate is not a policy target.
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