March 3, 2014 / 2:51 PM / 6 years ago

ECB's Draghi says inflation expectations firmly anchored

BRUSSELS, March 3 (Reuters) - Inflation expectations in the euro zone remain firmly anchored in line with the European Central Bank’s definition of price stability, ECB President Mario Draghi said on Monday.

Speaking to European lawmakers in Brussels, Draghi also said that the euro area is “clearly moving in the right direction - the glass is at least half-full.”

Draghi stressed the ECB’s commitment to delivering on its price stability mandate.

“Our credible commitment to these core elements is reflected in medium to longer-term inflation expectations remaining firmly anchored in line with the Governing Council’s aim of keeping inflation rates below, but close to, 2 percent over the medium term,” he told the European Parliament’s Committee on Economic and Monetary Affairs.

The ECB holds its March policy meeting on Thursday and 26 of 78 economists polled by Reuters last week have pencilled in a cut in the refinancing rate from the current 0.25 percent.

Reporting by Eva Taylor and Paul Carrel Editing by Jeremy Gaunt

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