ECB chief Draghi: QE will run beyond Sept 2016 if needed to achieve the 2% inflation target - EU Parliament testimony
- Reaffirms to closely monitor the risk to price stability;
- Reiterates view to re-examine the degree of monetary policy accommodation at December meeting
- Reiterates view that recovery in the Euro area is progressing moderately but downside economic risks are clearly visible
- QE will run beyond Sept 2016 if needed to achieve the 2% inflation target
- For monetary policy to be effective, it is important to meet market participants to hear views
- QE is particularly powerful and flexible tool; can use other tools to strengthen available within its mandate