Posted on 09/03/2015 7:56:02 AM PDT by Olog-hai
The European Central Bank is ready to give the eurozone economy a bigger dose of stimulus if turmoil in China and weaker global growth hurt its modest recovery, President Mario Draghi said Thursday.
Market volatility, concern over the effects of a looming interest rate increase in the U.S. and a drop oil prices have spawned uncertainty over the global economy, leading the ECB to cut its inflation and growth forecasts for the eurozone.
Draghi said the ECB can add to its €1.1 trillion ($1.2 trillion) program if needed to raise inflation or support growth. […]
The stimulus is intended to help get consumer price inflation back toward the ECB’s target of just below 2 percent in the 19 countries that use the euro as their currency. In the year to August, it stood at 0.2 percent. Draghi said inflation could even go negative in coming months following the recent drop in oil prices. …
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