ECB ready to use 'all available instruments'

(PARIS) - The European Central Bank is prepared to use all means at its disposal to curb any unwarranted rise in money market interest rates, ECB chief Mario Draghi said Wednesday.

The ECB was "particularly attentive" to developments in money market rates and was "ready to consider all available instruments," Draghi told a news conference after the central bank held its key interest rates steady at a record low of 0.50 percent.

Draghi said the ECB's policy-setting governing council "confirms that it expects the key ECB interest rates to remain at present or lower levels for an extended period of time."

This stance was based on the assumption that inflation expectations remain subdued, the ECB chief said.

"In the period ahead, we will monitor all incoming information on economic and monetary developments and assess any impact on the medium-term outlook for price stability," he said.

"With regard to money market conditions, we will remain particularly attentive to developments which may have implications for the stance of monetary policy and are ready to consider all available instruments," Draghi said.