ECB ‘ready and able to act’ as staff lower inflation forecasts

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Mario Draghi insisted the European Central Bank (ECB) is "ready and able to act" as the governing council held interest rates and the Eurosystem staff lowered its inflation forecasts for both this year and next.

The governing council held its benchmark interest rate at 0.25%, in line with market expectations after a shock 25-basis point cut at November's meeting. Draghi said the cut was "fully justified" as it had led the market to conclude that "monetary policy will stay accommodative for a pro

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