An ample degree of monetary stimulus remains necessary for underlying inflation pressure, the ECB's President Mario Draghi said on Thursday afternoon. The regulator will extend its quantitative easing programme for as long as needed.
The ECB will hold its raise interest rates at record lows for a long time after the end of quantitative easing programme, Draghi stressed.
In October 2017, the ECB decided to cut the level of bonds it purchases every month to 30 billion euros from 60 billion euros.
The incoming information indicates a high pace of economic recovery, which accelerated in the second half of 2017 stronger than expected, Draghi said.