FRANKFURT, Germany — The European Central Bank is ready to take further action to help the economy if the outlook takes a sudden turn for the worse, bank President Mario Draghi said Wednesday.
Draghi told a conference that the bank would take “all the monetary policy actions that are necessary and proportionate” in addition to steps taken at its March 7 meeting, when it extended the earliest date for rate increases and announced new cheap loans for banks.
Draghi said the economy of the 19 countries that use the euro faced “pervasive uncertainty” from a slowdown in global trade, while domestic demand remained robust.
He said the bank could respond to weaker than expected inflation by adjusting its timetable for interest rate increases.
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Right now, the ECB says rates will not rise before the end of the year.
The bank’s benchmark rate for lending to banks stands at a record low of zero.
