Mario Draghi: ECB may revise measures of stimulation

The ECB is likely to revise its approach to programme of economic stimulation on the background of rising risks and low inflation, said Mario Draghi on Tuesday. Thereby, he accented on readiness of the central bank to use all instruments to accelerate inflation towards required target level.

Mario Draghi wrote in a letter sent to the Euro parliament that he is going to estimate QE3 programme at current 1.5 trillion euro.

Mr Draghi also notes that revision of current programme should take into account rising downside risks for economic stability in the Eurozone. Main factors that strengthened problems are uncertainty of outlooks in emerging-market countries, market turbulence and high level of geopolitical risks. Certainly, inflation does not satisfy expectations on this background.

February was marked with another fall of prices for the Eurozone, which delays achievement of target inflation rate.

The central bank is going to announce new economic forecasts for the next two years at meeting on March 10^th. Forecasts for inflation rate are likely to be lowered.

If the ECB decides to act decisively, the bank still has enough instruments and no limits for implementation.