ECB determined to stop inflation becoming 'embedded' 

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The European Central Bank (ECB) is determined to stop inflation becoming "embedded" in the economy, ECB President Mario Draghi has said.

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Speaking at a news conference after the ECB's policy meeting on Thursday, Mr Draghi said the central bank was not satisfied with the current level of inflation.

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"We remain determined to act, and we will act," he said.

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The ECB left interest rates unchanged at its meeting, but Mr Draghi hinted that a further cut could be on the cards.

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"If necessary, we stand ready to adjust our policy stance further," he said.

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Mr Draghi also announced that the ECB would start buying corporate bonds in the coming weeks, as part of its efforts to boost inflation.

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The ECB's decision to leave rates unchanged was widely expected, but the news of more bond purchases surprised financial markets.

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The euro fell sharply against the US dollar after Mr Draghi's comments, and stocks rose.

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The ECB has been under pressure to do more to boost inflation, which has been stuck below its target of 2% for several years.

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Inflation in the eurozone was 0.2% in September, well below the ECB's target.

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