Draghi comments

  • We intend to reinvest maturing bonds for as long as necessary

  • Significant stimulus still needed to support inflation

  • ECB stands ready to adjust all instruments if needed

  • Protectionism and emerging markets risks gained prominence

  • Uncertainty around underlying inflation is diminished

  • New growth and inflation forecasts

  • Ample degree of monetary policy stimulus still needed (guidance unchanged)

  • Other policy areas must contribute more decisively

  • Reforms need to be substantially stepped up