The European Central Bank (ECB) President Mario Draghi said at the EP's Economic and Monetary Affairs Committee today:

• The economic recovery in the Eurozone is slowing;
  
• Geopolitical tensions could hurt business and consumer confidence;
  
• Inflation will remain at low levels over the coming months, before increasing during 2015 and 2016;
  
• The central bank will soon start purchasing simple and transparent securities and covered bonds;
  
• "The Governing Council remains fully determined to counter risks to the medium-term outlook for inflation";
  
• ECB is ready to implement additional unconventional instruments.