European Central Bank (ECB) chief Mario Draghi addressing an MEP hearing in Brussels said,

• The ECB stands ready to expand its quantitative easing program in the face of low inflation. The ECB President shrugged off the recent rise in inflation which has hit multi-year highs by calling it energy price induced one and expressed doubts whether this energy price induced inflation would durably affect the medium-term inflation outlook. He said, “If the inflation outlook becomes less favorable, or if financial conditions become inconsistent with further progress towards a sustained adjustment in the path of inflation, the Governing Council is prepared to increase the asset purchase program in terms of size and or duration.” He added that the Eurozone economies still facing downside risks. ECB has predicted that inflation would remain below target until 2019.
• Greek bonds will only be added to the QE program when the central bank assesses that the country’s debt level is sustainable.
• Mr. Draghi declared that Germany is not a currency manipulator and none of the country is, in the Eurozone, “We are not currency manipulators first and foremost. Our monetary policies reflect the diverse positions in the economic cycle of the Eurozone and the United States.” This came in response to Donald Trump’s trade advisor Peter Navarro’s comment calling Germany a currency exploiter.