ECB's Draghi says watching economic data closely

FRANKFURT, April 4 Thu Apr 4, 2013 8:45am EDT

FRANKFURT, April 4 (Reuters) - European Central Bank President Mario Draghi said on Thursday that the bank would keep a close eye on economic data over the coming weeks to judge what impact it would have on inflation.

"In the coming weeks, we will monitor very closely all the incoming information on economic and monetary developments, and assess the impact on the outlook for price stability," Draghi told a news conference.

He was speaking after the ECB left its main rate at a record low of 0.75 percent.

"Inflation rates have declined further as anticipated and price developments over the medium term should remain contained.

Monetary and loan dynamics remain subdued," Draghi said, adding that monetary policy would remain accomodative as long as needed.

The euro zone's economic decline dragged on unabated in March, marked by a huge drop in French business activity that outstripped even the downturns in Spain and Italy, Markit's Eurozone Services PMI showed earlier on Thursday.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.