The euro fell against the dollar Thursday after the European Central Bank (ECB) hinted at the possibility of further stimulus measures to boost the Eurozone economy. The central bank’s dovish tone reflected concerns about persistent low inflation and slowing economic growth in the region.

During its policy meeting, the ECB indicated that it is prepared to use all available instruments to achieve its inflation target. This includes potential interest rate cuts and the resumption of asset purchases, also known as quantitative easing.

“The Governing Council also discussed various options, including lowering interest rates and restarting asset purchases,” said ECB President Mario Draghi in a press conference following the meeting.

The prospect of further monetary easing weighed on the euro, as lower interest rates typically make a currency less attractive to investors. The euro fell to its lowest level against the dollar in nearly two weeks following the ECB’s announcement.

Analysts expect the ECB to closely monitor economic data in the coming months before making a final decision on whether to implement additional stimulus measures. Key indicators to watch include inflation, GDP growth, and unemployment rates.

Here are some potential measures the ECB could take:

• Cut interest rates further into negative territory
• Restart asset purchases
• Provide forward guidance on future policy moves
• Offer targeted longer-term refinancing operations (TLTROs) to banks

The ECB’s next policy meeting is scheduled for July, where policymakers will have more data to assess the economic outlook and decide on the appropriate course of action.