European Central Bank President Mario Draghi reaffirmed the growing concerns of the central bank arising from recent financial market turbulence. At the quarterly hearing before the Committee of Economic and Monetary Affairs, the ECB president reiterated that monetary policy has been one of the key determinants of economic health over the Euro Area in the past few years. The economic bloc will require robust fiscal and monetary policies in order to overcome the recent slowdown in the global economy and also to achieve the inflation target. According to Draghi’s remarks, the ECB will not hesitate to implement additional asset purchases if commodity and energy prices persistently decline, adding to existing deflationary pressures. Policymakers convene in early March to determine the central bank’s monetary policy trajectory. The Euro showed weakness during the press conference, falling to as low as 1.1128 versus the US dollar during the question and answer session.