Potential measures to boost the economy include expanding its bond purchasing program to combat low inflation and further reduction in the deposit rate.

“The degree of monetary-policy accommodation will need to be reviewed at our December meeting when new macroeconomic projections will be available,” Draghi said. “We want to be vigilant, as people used to say in the old times.”

Potentially revealing the ECB’s intentions ahead of the December meeting, Draghi dropped the phrase “vigilant,” which his predecessor Jean-Claude Trichet used to warn of upcoming changes in policy.

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Max Chen contributed to this article.