Draghi: ECB will be vigilant on oil prices

FXStreet (London) - Speaking at the press conference following the European Central Bank’s rate decision, ECB president Mario Draghi has said that the ECB will be “particularly vigilant” on oil prices, saying that inflation could drop further on recent oil price drops.

The latest inflation revisions from the central bank reflect weaker growth for the Eurozone and do not include the recent energy price falls. Draghi said that structural reforms within the Eurozone could help boost the economy, but that labour market reforms need to be accelerated.