FRANKFURT, April 3 (Reuters) - The European Central Bank will keep interest rates low for as long as needed and will consider all available instruments if monetary policy needs to be eased further, ECB President Mario Draghi said on Thursday.
Draghi told a news conference after the central bank kept its interest rates unchanged that the euro zone’s economic recovery was progressing as expected.
“Looking ahead, we will monitor developments very closely and will consider all instruments available to us. We are resolute in our determination to maintain a high degree of monetary accommodation and act swiftly if required,” he said.
“Hence, we do not exclude further monetary policy easing and we firmly reiterate that we continue to expect the ECB interest rates to remain at present or lower levels for an extended period of time.”
Reporting by Jonathan Gould; Editing by Catherine Evans