FRANKFURT (Reuters) – the European central Bank is willing to further ease its monetary policy, according to reports from three of its leading members, including the President who underlined the fears of the uncertainty of the prospects of Fed ‘global economy.
the 2016 will be another year full of challenges, wrote the ECB President, Mario Draghi, in the annual report.
” We have to deal with the uncertainty of the prospects of the global economy, with continuing disinflationary forces and with the question of what direction will Europe and its capacity to face new setbacks “Draghi wrote in the document.
the Dragons statements go into same direction as those of the Fed members, as reflected in the last minute meeting in March spread yesterday, in which it appears that “participants generally believe that the global economic and financial developments continue to pose risks.”
Draghi reiterated that “the ECB does not surrender in front of excessively low inflation” , a message that shows the availability to act in Frankfurt. An intervention could include an adjustment of the purchase of government bonds ECB program.
Even Peter Praet, chief economist of the ECB, Frankfurt reiterated the central bank to proceed with further measures if necessary.
“If you were to materialize further shocks, our measures should be recalibrated once again on the basis of the extent of headwinds,” he said.
The deputy Draghi, Vitor Constancio, has aligned itself with the statements of colleagues but added that other actors, especially in governments, must do their part to boost growth.
“the ECB has done … and will continue to do what is necessary to pursue the objective of price stability, which now also includes trying to encourage growth. But also other political forces must act, “Constancio said.
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