Euro Slumps as Draghi Says He's Ready to Lift Stimulus If Needed
- ECB cuts inflation forecasts, raises cap on bond purchases
- Central banker says QE may run beyond September 2016
Is Draghi's ECB QE Reset Enough to Help Europe?
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The euro fell to a two-week low as the European Central Bank signaled its willingness to increase stimulus to counter slower growth and inflation.
The shared currency weakened versus all of its 16 major counterparts after policy makers cut economic forecasts and raised the limit on bond purchases per issue under their quantitative-easing program. ECB President Mario Draghi said at a press conference in Frankfurt on Thursday that officials are willing, ready and able to act.