FRANKFURT (Reuters) - The European Central Bank left interest rates unchanged on Thursday, holding off policy action while it waits for new economic forecasts next month to assess the deflation threat facing the euro zone.
Following are comments by ECB President Mario Draghi at a post-meeting news conference.
READY TO ACT
"We are monitoring developments carefully and are ready to consider all available instruments.
"We remain firmly determined to maintain the high degree of monetary accommodation and to take further decisive action if required."
EURO AREA RECOVERY
"The moderate recovery of the euro area economy is proceeding in line with our previous assessments."
INFLATION EXPECTATIONS
"Underlying price pressures in the euro area remain weak and monetary and credit dynamics are subdued. Inflation expectations for the euro area over the medium term to long term continue to be firmly anchored in line with our aim of maintaining inflation rates below but close to 2 percent."
REITERATES FORWARD GUIDANCE
"We firmly reiterate our forward guidance. We continue to expect the key ECB interest rates will remain at present or lower levels for an extended period of time."
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