Economic Unease Puts Top Central Bankers Under Renewed Pressure

In a telling example, European Central Bank President Mario Draghi sent a strong signal Thursday he is prepared to launch additional monetary stimulus in March, a response to persistently low inflation tied to slow growth and falling commodities prices.

"We don't give up," Mr. Draghi said at a news conference in Frankfurt. "We are not surrendering in front of these global factors."

In Japan, calls are increasing for Bank of Japan Gov. Haruhiko Kuroda to launch new stimulus measures as early as next week, with Japan's economy sputtering and inflation near zero.''

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Officials at the U.S. Federal Reserve have penciled in four rate increases this year, but investors have long doubted the U.S. central bank will follow through and market turbulence could give officials pause. They must weigh low inflation and worrying signs from tumbling stock markets against a job market that is fast improving and potentially taking up economic slack.