FRANKFURT, (Reuters) - The European Central Bank dropped a long-standing pledge on Thursday to increase bond buys if needed, taking another small step in weaning the euro zone economy off protracted stimulus.
Following are highlights of ECB President Mario Draghi’s comments at a press conference after the bank’s policy meeting.
UNDERLAYING INFLATION SUBDUED
“Measures of underlying inflation remain subdued and have yet to show convincing signs of a sustained upward trend.”
MONITORING EXCHANGE RATES
“In this context (of subdued underlying inflation), the Governing Council will continue to monitor developments in the exchange rate and financial conditions with regard to their possible implications for the inflation outlook.”
“Incoming information, including our staff projections, confirms the strong and broad-based growth momentum in the euro area economy, which is projected to expand in the near term at a somewhat faster pace than previously expected.”
EMEA news desk
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