Investing.com – With just two days to go before the U.K. votes to decide on whether it remains in the European Union or prefers a Brexit, as the decision to leave is known, European Central Bank (ECB) president Mario Draghi repeated on Tuesday they were prepared to for any necessary action regardless of the outcome.
Speaking at the hearing of the Committee on Economic and Monetary Affairs of the European Parliament, Draghi noted that he expected the recovery of the euro zone economy to continue at a “moderate, but steady pace”
However, he also admitted that “inflation dynamics in the euro area remain rather subdued”.
In a speech that was largely similar to recent comments, Draghi promised that the central bank would continue to monitor the evolution of the outlook for price stability and that it stood ready to act with all the tools at their disposal in order to reach the inflation target of near 2%.
“In particular, the ECB is ready for all contingencies following the U.K.’s EU referendum,” he added.
Yet again, Draghi urged governments to implement structural reforms in order to consolidate the recovery.
“Our efforts should now concentrate on strong policy action to improve the business environment, favor investment and raise productivity,” he insisted.