European Central Bank ready to act if trouble hits economy

FRANKFURT, Germany (AP) - European Central Bank head Mario Draghi says the eurozone's top monetary authority is ready to take further action if the current uncertain economic outlook takes a sudden turn for the worse.

Draghi said at a conference Wednesday that the bank would take "all the monetary policy actions that are necessary and proportionate" in addition to steps taken at its March 7 meeting, when it extended the earliest date for rate increases and announced new cheap loans for banks.

Draghi said the economy faced "pervasive uncertainty" from a slowdown in global trade, while domestic demand remained robust. Draghi said the bank could respond to weaker than expected inflation by adjusting its timetable for interest rate increases. Right now the bank says rates will not rise before the end of the year.