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ECB to Wait and See

President Mario Draghi says central bank is 'willing and ready to act' but will wait till March to decide about further cuts to interbank rates.

By Jeff Black and Stefan Riecher, Bloomberg | Updated on February 06, 2014

European Central Bank (ECB) President Mario Draghi said the ECB could take action to counter low inflation as soon as next month, when more data on the euro area’s economy will be available.

“We are willing and we are ready to act,” Draghi said in Frankfurt today after the ECB left its benchmark interest rate on hold at a record-low 0.25 percent. “The reason for today’s decision not to act has really to do with the complexity of the situation that I described and the need to get more information.”

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