Mario Draghi hints at fresh ECB stimulation

Its QE programme is due to end in March...

Mario Draghi hints at fresh ECB stimulation

Michael Probst AP/Press Association Images

European Central Bank president Mario Draghi has signaled that policymakers will continue their commitments to provide monetary stimulus to the eurozone.

"Even if there are many encouraging trends in the euro area economy, the recovery remains highly reliant on a constellation of financing conditions that, in turn, depend on continued monetary support," he said at a keynote speech at the European Banking Congress in Frankfurt.

European Central Bank in Frankfurt / PA

"The ECB will continue to act, as warranted, by using all the instruments available within our mandate to secure a sustained convergence of inflation towards a level below, but close to 2%," Mr Draghi continued.

The central bank's €80bn per month quantitative easing programme is set to end in March of next year.

Eurozone's finance ministers' meet next on December 8th - Mr Draghi is expected to announce more details about the future of the ECB's efforts to stimulate economic activity across the bloc.

Figures released on Tuesday showed that the eurozone's economy grew by 0.3% during the third quarter - this was slightly below the 0.4% growth rate recorded by the whole of the EU.

This was the same growth rate as the previous quarter which also saw growth rate of 0.3%.