ECB could pump €1tn into eurozone in fresh round of quantitative easing

Mario Draghi suggested the bank could act to prevent dangerous deflation in comments cheered by European investors

The European Central Bank is ready to pump up to €1tn (£782bn) of fresh stimulus into the flagging eurozone economy to ward off a dangerous deflationary spiral, Mario Draghi has signalled.

Draghi, the ECB’s president, said on Thursday that the bank’s governing council was unanimously willing to announce more unconventional measures, signalling the possibility of creating electronic money – or quantitative easing – should a deteriorating economy make it necessary.

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