European Union

European Central Bank Chief: Expect Protracted Period of Low Inflation

Easy money policy to continue

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European Central Bank President Mario Draghi reiterated on Thursday that the 18-nation economy is set to experience a protracted period of low inflation and asserted that the bank will maintain easy policy for as long as needed.

"We may experience a prolonged period of low inflation, to be followed by a gradual upward movement towards inflation rates below, but close to, 2 percent later on," Draghi said in his introductory remarks at the customary post-decision press conference in Frankfurt.