The European Central Bank President Mario Draghi on Wednesday said the bank stands ready to deploy more policy tools, if any contingency warranted given the weaker growth outlook, and added that policymakers were studying the impact of the negative deposit rate on bank profitability, which suggest they may announce some relief measures for banks in coming months.
"The Governing Council stands ready to adjust all of its instruments, as appropriate, to ensure that inflation continues to move towards the Governing Council's inflation aim in a sustained manner," Draghi said in the introductory statement to his customary post-decision press conference in Frankfurt.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.