Mario Draghi said inflation expectations have deteriorated across the euro area and signaled policy makers are ready to add fresh monetary stimulus.
In his strongest indication yet that officials aren't finished with measures to stave off a Japan-style stagnation, the European Central Bank (ECB) president told his international counterparts in Jackson Hole, Wyoming, today that investor bets on euro-area inflation have “exhibited significant declines at all horizons” in August.
“The Governing Council will acknowledge these developments and within its mandate will use all the available instruments needed to ensure price stability over the medium term,” Draghi said in ad-libbed remarks during a speech at the Federal Reserve Bank of Kansas City's annual economic symposium.
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