Mario Draghi addresses ECB dissent speculation: 'It's normal to disagree'

Maria Tadeo@mariatad
Thursday 06 November 2014 18:05

European Central Bank president Mario Draghi shut down speculation of dissent among the bank's governing council.

"It is fairly normal to disagree about things," Draghi said at the ECB monthly meeting, noting that the governing council had "unanimously" agreed to take on "additional unconventional instruments" to revive the euro zone and ward off deflation.

Earlier this week, Reuters reported his colleagues at the ECB were unhappy about his management style, in particular his "secretive" ways and "erratic communication".

The agency also reported council members were angered after Draghi signalled he would increase the ECB's balance sheet by one trillion euros to approximately three trillion euros, even-though they had agreed not to make figures public.

Today, Draghi insisted there are "no coalitions" and reiterated that target, telling reporters the ECB's actions would increase the balance sheet "toward the dimensions it had been at the beginning of (March) 2012", or three trillion euros.

The ECB announced it would keep rates unchanged at a record low of 0.05 per cent and keep deposit rates at minus 0.2 per cent. European stocks edged higher and the euro fell to a more than two-year low after the decision was announced.

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