Draghi Keeps Door Open For ECB Action

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Draghi Keeps Door Open For ECB Action

by Wochit 0:52 mins

Draghi Keeps Door Open For ECB Action

by Wochit 0:52 mins

European Central Bank President Mario Draghi said the bank needed to be on its guard against a "negative spiral" of low inflation that could drag down the economy — and it could engage in large-scale bond purchases to combat that if need be. Draghi's remarks at a conference in Sintra, Portugal, held out the prospect for action to stimulate the weak recovery at the ECB's next governing council meeting June 5. The meeting will take place against the background of a slow recovery in the 18 countries that share the euro currency and concern that Europe may fall into outright deflation, or a crippling downward price spiral.

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