By Todd Buell

European Central Bank President Mario Draghi renewed his call for eurozone politicians to make economic reforms to improve growth, boosting the effectiveness of stimulative monetary policy.

Mr. Draghi told a European Parliament committee in Brussels that in 2016, "the euro area economy proved to be resilient, in spite of uncertainty stemming from the economic and political environment".

"Inflation has gradually edged up and the ECB's monetary stimulus has been a key ingredient of the ongoing recovery," he said.

If "decisive action" were taken by governments, "monetary policy measures in the euro area could be even more effective," he said.

"Low productivity growth, legacy problems in the banking sector and limited progress with structural reforms are all issues that need to be tackled swiftly," Mr. Draghi added.

Write to Todd Buell at

(END) Dow Jones Newswires

November 28, 2016 10:00 ET (15:00 GMT)

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