ECB's Draghi Opens Door For More QE In December

The European Central Bank could announce more easing measures at its December meeting, the bank's president, Mario Draghi, hinted on Thursday. Speaking after the ECB kept interest rates steady, as expected, Draghi said economic recovery and inflation in the eurozone were likely to be hit by slowing growth in emerging markets. "In this context, the degree of monetary policy accommodation will need to be re-examined at our December monetary policy meeting, when the new eurosystem staff macroeconomic projections will be available," Draghi said at the meeting. He added that the Governing Council is "willing and able to act by using all the instruments available within its mandate," including lowering the deposit rate further into negative. The euro dropped more than a percent to $1.1188 as Draghi spoke.