ECB head Draghi says central bank ready to add stimulus if needed; euro falls

European Central Bank head Mario Draghi is underlining the bank's willingness to add more monetary stimulus if needed at its December meeting to push inflation higher.

Draghi told members of the European Parliament in Brussels on Thursday that signs of a turnaround in currently weak inflation "have somewhat weakened."

Low annual inflation — currently zero in the 19 countries that use the euro currency — points to weak demand and makes it harder for indebted companies and countries to recover.

The ECB is purchasing 1.1 trillion euros ($1.2 trillion) in bonds with newly printed money through September, but inflation remains low. Draghi said at the Oct. 22 meeting that the bank would review whether more stimulus was needed.

The euro dropped on Draghi's remarks, falling to $1.07 from $1.0745.