European Central Bank chief Mario Draghi said Wednesday that there was "clear evidence" that the bank's monetary policy measures were "effective" and the ECB would ensure they were implemented fully.

"There is clear evidence that the monetary policy measures we have put in place are effective," Draghi told a news conference.

"Financial market conditions and the cost of external finance for the private sector have eased considerably over the past months and borrowing conditions for firms and households have improved notably, with a pick-up in the demand for credit. Looking ahead, our focus will be on the full implementation of our monetary policy measures," he said.