Mario Draghi defends ECB policy

A day after kicking off yet another ECB stimulus review, Mario Draghi tried to convince investors he will do what is needed to reignite consumer prices.

“We’ve plenty of instruments. We have the determination, and the willingness and the capacity of the governing council, to act and deploy these instruments,” the ECB president said yesterday at the World Economic Forum in Switzerland.

The comments reflect the ECB’s agreement to re-examine its strategy of a €1.5tn bond-purchase plan and negative interest rates.