– “The European Central Bank expects that rates will remain at current levels for a long time, and well beyond the time horizon of purchases that is leading in Quantitative easing “. This was stated by President Mario Draghi Eurotower. “With the new six pack of monetary stimulus – he added – the ECB points to a further easing of financial conditions, to stimulate credit and strengthen the recovery.”
“If necessary Q and continue beyond March 2017″ – the plan of purchases of bonds strengthened and expanded by the ECB will continue “if necessary” beyond the deadline of March 2017 “and in any case until we see a sustained rise in inflation dynamics” to values consistent with the aims. This was stated by the president of the ECB, Mario Draghi, at a press conference following the Governing Council. The ECB has raised to 50% from 33% affordable limit of each individual bond issue through the Quantitative easing.
“Rates will remain so, or even lower long” – the interest rate cut by the ECB will remain “at current levels or lower for an extended period of time,” said Mario Draghi. “All the countries of the euro should strive to prepare a composition of budgetary policies more favorable to growth,” he added. With the new six pack of monetary stimulus measures, the ECB aims to “further easing of financial conditions, to stimulate credit and strengthen” the recovery.
ECB drastically cut inflation forecasts – The ECB has drastically cut its euro area inflation expectations, especially on 2016 which now estimates a limited 0.1 percent, from the previous 1 percent, while the 2017 estimated 1.3 percent and 1.6 percent on 2018.
“averted a disastrous deflation” – euro area “we are not in deflation and the situation is substantially different from what it was in Japan in the 90s – continued ECB president -. without action from the ECB today we would have a disastrous deflation that would, as implied effect, to aggravate the burden of public debt. “
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