May 8, 2014 / 1:00 PM / in 4 years

ECB's Draghi says critics should not threaten bank's independence

BRUSSELS, May 8 (Reuters) - European Central Bank President Mario Draghi said on Thursday that continual calls from institutions and countries for the bank to take action risked undermining the ECB’s credibility.

At a news conference after the ECB decided to keep its interest rates unchanged at 0.25 percent, Draghi was asked about calls for the ECB to do something to boost the economy and fight deflationary pressures.

“Over the last few day we received plenty of advice from political figures (and) from institutions on almost everything ... so we are certainly thankful for this advice,” he said.

“But you know by the treaty we are independent so people should be aware that if this might be seen as a threat to our independence it could cause long-term damage to our credibility.”

The International Monetary Fund, Organisation for Economic Cooperation and Development, and some French politicians have been pushing the ECB to take more actions. (Reporting by Eva Taylor Editing by Jeremy Gaunt)

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