The European Central Bank remains “ready to consider all available tools and to take further action if necessary” in response to low inflation and subdued credit dynamics. This was stated by the president of the ECB, Mario Draghi in the press conference at the end of the Governing Council.
The ECB, which he also tweaked this year's forecasts for economic growth in the euro area are up (+1,2% in 2014, +1,5% in 2015 and for the first time they elaborated an estimate on 2016: plus 1,8%), predicted that in 2014 inflation will mark +1%, +2015% on 1,3 and for the first time they have elaborated an estimate on 2016: plus 1,5%. Three months ago they estimated plus 1,1 percent on 2014 and plus 1,3 percent on 2016.
The data was illustrated by the president Mario Draghi, who also added: “Euro area countries must not undo the efforts already made on consolidation and must put high public debts on declining trajectories”.
