Draghi takes on central bank critics: 'We are not short of ammunition'

European Central Bank Mario Draghi on Thursday rebuffed recent criticism that central banks are running out of tools to boost flagging economies. Speaking at news conference in Frankfurt, the ECB chief took issue with the idea that whatever tools central banks use, their impact is minimal. "The best answer is being given by our decisions today. It's a fairly long list of measures, and each one is very significant and designed to have maximum impact on boosting the economy and returning to price stability. So we have shown today we are not short of ammunition," he said. The comments came after the ECB earlier on Thursday introduced a surprisingly aggressive easing package, including rate cuts, an increase in its quantitative-easing program and a new series of cheap loans to banks.

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