Mario Draghi, President of the European Central Bank (ECB) smiles as he arrives for the ECB's monthly press conference in Frankfurt, November 6, 2014.REUTERS/Kai Pfaffenbach
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European Central Bank members are all prepared to take more policy action if necessary and the bank's staff will prepare the groundwork in case, President Mario Draghi said Thursday.The ECB kept interest rates at a record low 0.05 percent at its monthly meeting, waiting to see how stimulus measures laid out in recent months unfold.Reuters reported Tuesday central bankers in the eurozone planned to challenge Draghi over his communication style and in particular his mention of a balance sheet target for how much money the ECB planned to pump into the economy after the Governing Council agreed not to make any figure public in September.Some economists are looking toward December when the ECB will update its economic projections.ECB staff in September forecast growth of 0.9 percent this year and 1.6 percent in 2015, with inflation reaching 1.4 percent in 2016 – still below its target of just under 2 percent.
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