ECB's Draghi Sees Wage Pressure, Won't Allow Defeat on Inflation

Mario Draghi defended the European Central Bank’s inflation goal and said he sees increasing wage pressure that will help the institution meet its mandate.

People say “it’s been so long when we haven’t reached the below but close to 2 percent, why don’t you lower inflation to something lower and accept defeat,” the ECB president told students in Frankfurt. “And that’s exactly why we are not doing it, because we don’t accept defeat.”