January 28, 2019 / 3:29 PM / 10 months ago

ECB can restart QE if needed but unlikely this year: Draghi

European Central Bank (ECB) President Mario Draghi arrives to testify before the European Parliament's Economic and Monetary Affairs Committee in Brussels, Belgium January 28, 2019. REUTERS/Francois Lenoir

FRANKFURT (Reuters) - The European Central Bank could resume bond purchases if necessary but such a move is unlikely this year, ECB President Mario Draghi told the European Parliament’s committee on economic affairs on Monday.

“If things go very wrong, we can still resume other instruments in our toolbox,” Draghi told lawmakers in response to a question about restarting the purchases. “At this point in time, we don’t see such a contingency as likely to materialize, certainly not this year.”

The ECB ended its 2.6 trillion euro bond purchase scheme, known as quantitative easing, in December after nearly four years.

Reporting by Balazs Koranyi; Editing by Catherine Evans

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