Policy will remain accommodative for a long time

Draghi, in his testimony, added further that monetary policy will remain accommodative for a long time and has been the only true stimulative tool in the last 4 years.

Key Quotes

ECB must look at all tools to decide which is most effective

Global disinflation is not an excuse for ECB inaction

Timeframe for inflation to reach target has gradually increased due to external factors

Countries which have fiscal space should use it