ECB's Draghi: Euro zone economy weak, faces risks

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.