Speaking at the ECB’s annual conference in Sintra, President Mario Draghi remarked that the central bank will consider easing its monetary policy again if inflation does not reach the target of under two percent.

The ECB has been grappling with inflation undershooting its target since 2013, and the recent slowdown in economic growth worldwide has increased the risk of easing price growth further. According to Draghi, there was still room to implement more asset purchases, in addition to adjusting guidance, cutting rates and more measures to consider.

In the coming weeks, the ECB is set to examine its options and come up with new measures at the earliest. Draghi commented that the ECB remained committed to maintaining inflation rates, adding, “Will use all the flexibility within our mandate to fulfill our mandate – and we will do so again to answer any challenges to price stability in the future.”

Draghi’s recent dovish remarks have turned European stock markets bearish on Tuesday open and have even caused a weakening in the Euro. DAX fell below 12000, but has now recovered and is trading at over 12180 at the time of writing.