European Central Bank (ECB) President Mario Draghi took a swipe at the International Monetary Fund (IMF) Thursday, as he defended the bank's decision to keep monetary policy unchanged for another month.
On Wednesday, the IMF Managing Director Christine Lagarde called for more action from the ECB to combat falling inflation and keep the euro zone's recovery on track.
But in a press conference following the ECB's monthly monetary policy meeting, where it decided to hold rates at the record low of 0.25 percent, Draghi said he appreciated the IMF's contribution - although his tone told another story.
"The IMF has been (recently) extremely generous in its suggestions on what we should do or not do, and we are really thankful for that," Draghi said, but added that the ECB's Governing Council disagreed.
"Frankly, I would like the IMF to be as generous as they have been towards us also with other monetary policy jurisdictions, like for example issuing statements just the day before an FOMC (U.S. Federal Open Market Committee) meeting would take place," he added.
ECB holds fire
The comments came as the ECB opted to keep monetary policy unchanged, despite some calls to act in an effort to quell fears that price increases were either slowing down or falling into reverse, which could damage the region's economy.
"A potentially prolonged period of low inflation can suppress demand and output—and suppress growth and jobs. More monetary easing, including through unconventional measures, is needed in the euro area to raise the prospects of achieving the ECB's price stability objective," Lagarde said.
But the ECB held its key interest rate at 0.25 percent, where it has stayed since November last year. The interest rate on the ECB's deposit facility also remained unchanged at zero percent.
The euro was narrowly higher against both the U.S. dollar and British sterling after the announcement, before falling back as ECB President Mario Draghi spoke at his regular news conference in Frankfurt, Germany.