Aggressive monetary policy in the euro zone could be ramped even higher if inflation rates do not return to desired targets, says Mario Draghi, the president of the European Central Bank.
Speaking in Bologna, Italy, Monday, the central bank chief reiterated his call that the bank stood ready to act and once again added that governments of the 18 countries that use the euro should also be playing their part.
"If the ECB had to intensify the use of its instruments to ensure that it achieves its price stability mandate, it would," Draghi said, according to a transcript of his speech.
Draghi called on countries to facilitate a "work-out" of toxic loans to aid a stronger recovery in credit and lending and said that it was important the region did not lose site of completing its monetary union.
