Draghi: ECB committed to inflation target: report

The European Central Bank’s governing council is united in its determination to achieve the bank’s mandate of keeping inflation just below 2%, ECB President Mario Draghi said in a German newspaper interview published Wednesday, though differences remain on how to achieve this.

In the interview with Germany’s Die Zeit newspaper, Mr. Draghi said the ECB doesn’t have many options left to expand monetary policy, an indication that officials are moving forward with a plan to purchase government bonds of eurozone countries. The ECB meets next on Jan. 22.

Still, Mr. Draghi said it isn’t the ECB’s job to reform the bloc’s economy, saying that is up to governments.

Consumer prices in the eurozone fell 0.2% in December from the previous year, the first annual decline since 2009.

 Varchev Traders

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