European Central Bank (ECB) President Mario Draghi said in a speech on Friday that the Eurozone's economy continued to recover, adding that there was uncertainty about the outlook, mainly due to downside risks to growth prospects in emerging economies.

Draghi noted that inflation in the Eurozone would likely be negative in the coming months before rising later in 2016.

Effective structural policies were needed to support the central bank's monetary policy, the ECB president said.

Draghi pointed out that there was no evidence for asset bubbles.