European Central Bank chief Mario Draghi has said the ECB is ready to begin buying sovereign bonds on short notice to combat deflation. The measure is, however, controversial among economists, DW reported. Mario Draghi said that the European Central Bank may soon broaden its purchases of euro-denominated securities to infuse more central bank money into the financial system, in an effort to stimulate the economy. “It is essential to bring back inflation to target and without delay,” he said. The ECB has a permanent official inflation target – it aims to keep annual consumer price inflation just below two percent.
