Mario Draghi

Mario Draghi

Ralph Orlowski/Bloomberg

Euro-area inflation was at 0.8 percent in December and has been below the ECB’s 2 percent ceiling for 11 months. While it’s forecast to continue to undershoot the target through next year, Draghi said in an interview with German magazine Der Spiegel released on Dec. 28, that “at the moment there’s no immediate need to act.” The last rate cut was in November.