While “all advanced economies are facing a growth challenge, the euro area has been slower to embrace innovation," Christine Lagarde says.
The self-confessed economic outsider faces the challenge of helping stimulate the eurozone economy amid mounting fears of recession.
Amid "pervasive uncertainty" over trade, "the ECB and the U.S. Federal Reserve appear to have given up on plans to tighten [monetary] policy."
Bankers say the European Central Bank's stimulus is leading to more loans but is also cutting into profitability.
Mario Draghi announces stronger than expected measures to awaken the eurozone from its economic slumber.
The bank could step up its $1 trillion bond buying program with inflation still stubbornly below its 2% target.
As the euro plummets and the dollar soars, U.S. exporters and multinationals try to limit the damage to revenues and earnings.
The ECB's bond buying program starts on March 9, but ECB economists have already raised growth forecasts for the euro zone.
The European Central Bank might unleash its long-awaited quantitative easing program in early 2015.
The European Central Bank cut growth and inflation forecasts for 2015 and 2016, saying it would reassess the need for policy measures early next year.
Despite the robust growth shown by Europe's largest economy last quarter, the euro zone remains plagued by anemic demand .
