Draghi: Weak global inflation no reason for ECB inaction

FRANKFURT: Mario Draghi said the fact that inflation is weak globally won’t stop the European Central Bank (ECB) from adding stimulus for the eurozone if needed.

“There are forces in the global economy today that are conspiring to hold inflation down,” the ECB president said in a speech in Frankfurt yesterday. “What matters is that central banks act within their mandates to fulfill their mandates. In the euro zone, that might create different challenges than it does in other jurisdictions, but those challenges can be mitigated. They do not justify inaction.”