Annual inflation rates in the eurozone jumped up from 0.6 percent to 1.1 percent which led to fresh calls from German advocates for the central bank to consider raising interest rates.
However, Draghi argued the increased levels of annual inflation rates had not yet displayed a convincing trend for the ECB to amend its monetary policy.
The euro was down 0.25 percent against the dollar during Draghi's press conference, before recovering to $1.06 by mid-afternoon trade on Thursday.
Draghi also moved to reassure lawmakers in Germany, and elsewhere in the euro zone, to try and stay patient with the ECB. He stressed that lower interest rates were needed currently in order to allow for higher rates in the future.
"The recovery of all of the euro zone is in the interests of everybody, including Germany," Draghi added.
The ECB had said it would
extend its generous bond-buying program
at its December meeting albeit at a reduced pace of purchases. The central bank explained the new pace of asset purchases would be scaled back from 80 billion euros ($85.3 billion) a month to 60 billion euros from April onward.
Investors and analysts who had expected a six-month extension to the asset-buying program due to end in March were caught off guard in December. ECB President
dismissed the idea that the amendment to the pace of asset purchases could be viewed as easingoff, although conceded the concept of "tapering" had several meanings.
Meeting minutes from the ECB's December meeting showed "a few members" had been opposed to the central bank extending its purchases beyond March.