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The European Central Bank President Mario Draghi said in a letter to a European Parliament member, Luke Ming Flanagan, on Thursday that the central bank is ready to take unconventional measures if needed, including purchase of government bonds.
Draghi pointed out that the ECB would monitor "the risks to the outlook for price developments over the medium term".
"It will be particularly vigilant as regards the broader impact of recent oil price developments on medium-term inflation trends in the euro area," he noted.
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