Draghi points to ECB action next month

mario-draghi

The European Central Bank (ECB) took no action at its governing council meeting today, but is "comfortable with" the idea of easing policy next month, according to president Mario Draghi.

The council, meeting at the National Bank of Belgium, was content to hold the main refinancing rate at 0.25% after annual HICP inflation rose from 0.5% in March to 0.7% in April.

The ECB believes inflation will return to target by the end of 2016. Draghi said the council was "dissatisfied" with the prolonged pe

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