November 8, 2018 / 4:07 PM / a year ago

ECB's policy guidance can be changed if needed: Draghi

FILE PHOTO: European Central Bank (ECB) President Mario Draghi speaks during the news conference following the governing council's interest rate decision at the ECB headquarters in Frankfurt, Germany July 26, 2018. REUTERS/Kai Pfaffenbach/File Photo

DUBLIN (Reuters) - The European Central Bank’s policy guidance is not carved in stone and can be changed if the outlook darkened, ECB President Mario Draghi said on Thursday.

“We keep a lot of optionality in our message, in our monetary policy guidance,” Draghi told Irish lawmakers. “If things were to go worse, then we can always extend the period of time, we can always change our forward guidance consistently with the incoming information.”

Draghi added the he did not expect the end of the ECB’s bond purchases would increase sovereign borrowing costs as the bank will continue to provide stimulus through several other channels.

Reporting by Padraic Halpin; Writing by Balazs Koranyi

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