"The ECB will keep the liquidity lines open to all solvent banks"
- Mario Draghi, ECB President
The European Central Bank is ready to do more to help the struggling economy, said ECB President Mario Draghi in a testimony to the European Parliament on Monday.
"The ECB will keep the liquidity lines open to all solvent banks," said Mr. Draghi. The central bank "retains full capacity to act in a firm and timely manner" to ensure price stability, he said.
The ECB cut the benchmark rate to a record low of 0.75 per cent the previous weak.
"Whether we were going to do more than that...we have to look at what the situation is, then we'll make up our minds," Mr. Draghi said.
European stocks rose on Tuesday. The Stoxx Europe 600 Index gained 0.84 per cent to 255.60. Germany's DAX Index added 0.79 per cent and France's CAC 40 Index increased 0.59 per cent.
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