The European Central Bank (ECB) President Mario Draghi wrote in the letter to Jonas Fernández, member of the European Parliament, on Tuesday that the central bank will review its monetary policy measures at the monetary policy meeting next week as the downside risks to the outlook increased. He noted that the ECB's quantitative easing was working.
Draghi also said that the Eurozone's inflation is weaker than expected.
The ECB president pointed out that the central bank could add further stimulus measures if needed.
"The Governing Council has a variety of instruments at its disposal to respond, if warranted, and there are no limits to how far we are willing to deploy our instruments within our mandate to achieve our objective of inflation rates below, but close to, 2% over the medium term," Draghi wrote.