Brussels, 26/03/2014 (Agence Europe) - In Paris on Tuesday 25 March, the president of the European Central Bank, Mario Draghi, said that the ECB was prepared to take extra measures to ensure that it met its mission (in other words to ensure price stability) as inflation currently stands at well below the ECB's 2% target.
Speaking at the Paris Institute of Political Science (Sciences Po), Draghi said that there was “limited” risk of deflation. In Geneva, the director general of the European stability mechanism (ESM), Klaus Regling, shared Monti's assessment (see related article). Regling said the eurozone was experiencing a prolonged period of low inflation, rather than deflation. He quoted International Monetary Fund figures estimating the risk of deflation in the eurozone being between ten and twenty percent. (EL)