The European Central Bank President Mario Draghi said at conference in Sintra, Portugal:

• The ECB monitors exchange rate and credit dynamics closely;
  
• Low level of harmonised consumer price index (HICP) in the Eurozone is caused by the strong euro;
  
• The ECB should monitor closely the negative inflationary spiral;
  
• The ECB could purchase assets in the case of weakening inflation;
  
• Low inflation will be last for a longer period of tome but gradually return to 2%.