ECB's Draghi: Euro zone economy weak, faces risks
FRANKFURT, July 5 |
FRANKFURT, July 5 (Reuters) - European Central Bank President Mario Draghi said on Thursday the euro zone economy was weak and facing risks, but that inflation was not posing a problem.
"Inflation rate pressure...has been dampened. At the same time, economic growth in the euro area continues to remain weak, with heightened uncertainty weighing on confidence and sentiment," he told a news conference.
He said the 17-nation bloc's economy was subject to downside risks.
Earlier, the ECB cut its main interest rate to a record low of 0.75 percent and its deposit rate to zero to help tackle the crisis that has left the bloc's deteriorating economy on the brink of recession.
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