The European Central Bank promises to further relax its policy

                                                                                    INQUIRY

      On Thursday, ECB President Draghi made a blunt commitment to further easing policy as economic growth prospects deteriorated, even hinting that he would reinterpret the central bank's inflation targets. Inflation targets are the cornerstone of the ECB's overall policy framework.
Four people familiar with the matter told Reuters on Thursday that the ECB's September meeting seemed to be a foregone conclusion. They added that it was also possible to buy government bonds and adjust policy guidelines.
For most of Draghi's eight-year term over the past six years, inflation in the eurozone has been below the ECB's target. Draghi said the euro zone's economic outlook was weakened by the impact of the global trade war on manufacturing, which focused on European exports.
This may affect the region's economy, which has not yet fully recovered from the European debt crisis, but is still resilient.
"The outlook is getting worse, the outlook for manufacturing is getting worse and worse, and the outlook for manufacturing-dependent countries is getting worse and worse," Draghi, who will step down on October 31, said at a news conference.
The ECB has been targeting inflation at near but below 2% for 16 years, but Draghi said that after long-term failure to meet the target, the target is considered symmetrical and 2% will not be the upper limit.


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