Draghi also said a rise in the euro's exchange rate would, all other things being equal, imply a tightening of monetary conditions with a downward impact on inflation and so pose a potential a threat to the currency bloc's economic recovery.
"If so, this would call for policy action," he said.
Under the scenario of an undue tightening in the ECB's policy stance that could arise from bond market tensions, Draghi said the central bank could respond with a variety of conventional measures.
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This included "a further lowering of the interest rate corridor, including a negative deposit rate", and a further extension of the fixed-rate, full allotment procedure - whereby the ECB lends banks as much money as they want at a fixed rate - beyond the existing timeframe running until July 2015.
"Finally, if necessary, the measures could include new liquidity injections via our liquidity operations, including longer-term fixed-rate operations," he said.
Should the ECB's policy transmission be further impaired, the central bank could respond with "a longer-term refinancing operation targeted towards encouraging bank lending or an ABS purchase programme".
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