Draghi Says ECB Credibility Hinges on Meeting Inflation Goal

  • ECB President says critics ignore risks of doing nothing
  • While core inflation not the ECB goal, it leads headline gauge
Source: Getty Images
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Mario Draghi hit back at critics of his policies, saying the European Central Bank must fulfill its inflation mandate in order to maintain its credibility.

“Meeting our objective is about credibility,” the ECB president said in a speech near Frankfurt on Monday. “If a central bank sets an objective, it can’t just move the goalposts when it misses it.”