ECB ‘to consider all options’ on inflation

The European Central Bank is ready to deploy anything in its monetary policy toolbox if inflation stays too low for too long despite keeping interest rates steady yesterday, its president said.

The ECB held its main interest rate at a record low of 0.25% and the rate for bank deposits at central banks at zero, hoping the eurozone recovery will gain strength unaided.

ECB chief Mario Draghi told a news conference that he and his colleagues expected a prolonged period of low inflation and that if it dragged on too long, action would be taken.