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CORRECTED-ECB committed to using unconventional methods to fight prolonged low inflation - Draghi
April 3, 2014 / 12:45 PM / 4 years ago

CORRECTED-ECB committed to using unconventional methods to fight prolonged low inflation - Draghi

(Corrects headline and first two paragraphs to indicate Draghi said “also” not “all” in reference to unconventional methods)

FRANKFURT, April 3 (Reuters) - The European Central Bank is committed to using unconventional measures it has available to ensure low inflation does not take hold for too long in the euro zone, ECB President Mario Draghi said on Thursday.

“The (ECB‘s) Governing Council is unanimous in its commitment to using also unconventional instruments within its mandate in order to cope effectively with risks of a too prolonged period of low inflation,” he told a news conference after the central bank kept its interest rates unchanged.

Euro zone annual inflation ticked down to 0.5 percent in March, its lowest since the economy was deep in recession in 2009, and its sixth month in what Draghi has described as “the danger zone” below 1 percent.

Draghi said inflation was expected to remain low before rising to close to 2 percent at the end of next year. (Reporting by Jonathan Gould Editing by Jeremy Gaunt)

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