Draghi stresses ECB ready to use all available tools to support Eurozone economy

FXstreet.com (Barcelona) - In the speech prepared for delivery at the International Monetary and Financial Committee in Washington on Saturday and released by the ECB today Mario Draghi reiterated the forward guidance on rates and emphasized that the central bank was ready to use all the available instruments to support the Eurozone economy.

He assured that the ECB would "remain particularly attentive to developments which may have implications for the stance of monetary policy" in order to act whenever needed.

Furthermore, Mario Draghi said that public backstops should be set up before the ECB evaluates the quality of the Eurozone banks' assets. He also expressed satisfaction with the efforts to restore balance sheets made by EU banks so far.