Draghi says ECB can't yet declare victory in inflation fight

"While our confidence that inflation will converge toward our aim of below, but close to, 2% has strengthened, we cannot yet declare victory on this front," the ECB president said at European Parliament hearing in Strasbourg on Monday. "Monetary policy will evolve in a fully data-dependent and time-consistent manner".

With the eurozone economy expanding at the fastest pace in a decade, unemployment falling and nascent signs of price pressure evident, policy makers are considering the smoothest way out of their €2.6 trillion asset-purchase programme. Still, the officials want to move as cautiously as possible amid concerns including exchange-rate volatility, which Draghi reiterated requires monitoring.