IMF's Lagarde sees eurozone inflation 'way below target'

DAVOS, Switzerland: Euro zone inflation is "way below target" and deflation is a potential risk for the bloc, International Monetary Fund Managing Director Christine Lagarde told the World Economic Forum in Davos on Saturday.

In response, European Central Bank President Mario Draghi said the ECB stood ready to act if inflation went lower than forecast and reaffirmed that interest rates would remain low or go lower for an extended period of time.