Draghi: ECB ready to act

FXstreet.com (Barcelona) - ECB President Mario Draghi, who appeared today at a farewell conference for Bank of Israel Governor Stanley Fischer in Jerusalem, said that the situation in the Eurozone was improving and that the central bank was ready to deploy standard interest rate policy and non-standard measures “if circumstances warrant”, to prop up the recovery.

The ECB head said that some of the measures might have unintended consequences but that it should not be a reason for not using them. Draghi assured that the ECB's monetary policy has “regained steering capacity” and that the Governing Council is still able to “deliver our objective of price stability by the low level of interest rates.”