Economic recovery in the
eurozone is expected to continue but at a slower pace than
previously forecast due largely to a slowdown in emerging market
economies and the consequent drop in demand for euro area
exports, the European Central Bank (ECB) said in its monthly
bulletin published Thursday.
Instead the bank's monetary policy measures should continue
to support domestic demand, the ECB said.
In this respect, the bank's governing council "emphasises
its willingness and ability to act, if warranted, by using all
the instruments available within its mandate" and particularly
the flexibility offered by its asset purchase programme -
otherwise known as quantitative easing - until it sees " a
sustained adjustment in the path of inflation which is
consistent with its aim of achieving inflation rates below, but
close to, 2% over the medium term," the bulletin read.
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