- Thursday, 19 January 2017
- News
ECB left interest rates unchanged
The European Central Bank kept its super-easy monetary policy unchanged as expected on Thursday, maintaining extraordinary stimulus to aid a tepid recovery in growth after nearly a decade in the doldrums. Following are highlights of ECB President Mario Draghi's comments at a post-policy meeting press conference.
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- Monday, 26 December 2016
- News
ECB's Weidmann says Monte dei Paschi bailout must be carefully weighed
European Central Bank policymaker Jens Weidmann said plans for a state bailout of Italian bank Monte dei Paschi di Siena (BMPS.MI) should be weighed carefully as many questions remain to be answered, according to German newspaper Bild. "For the measures planned by the Italian government the bank has to be financially healthy at its core. The money cannot be used to cover losses that are already expected," Bild quoted Weidmann as saying in a summary of an article due to be published on Tuesday. He said there must be a risk of severe economic turbulence, adding: "All this must be carefully examined."
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- Thursday, 08 December 2016
- News
ECB extended bond-buying with reduced pace
The European Central Bank extended its quantitative-easing program until the end of 2017, while reducing the monthly pace of purchases to 60 billion euros ($65 billion) from 80 billion euros starting in April. The Governing Council also said it will step up purchases again or prolong them if needed. Policy makers kept the main refinancing rate at zero, the deposit rate at minus 0.4 percent and the marginal rate at 0.25 percent, as predicted by in a Bloomberg survey of economists.
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- Thursday, 24 November 2016
- News
ECB says it can shield euro area from global finance instability
The European Central Bank is confident it will be able to continue shielding the euro area from the risk of a sudden correction in asset prices, after political events such as the election of Donald Trump threaten to increase volatility in coming months. “We are certainly seeing a correction coming from the U.S.,” ECB Vice President Vitor Constancio said on Thursday in an interview with Bloomberg TV’s Matt Miller. “The ECB will continue to exert its stabilizing role, so I don’t think there will be significant contagion to Europe.” Constancio spoke on the occasion of the publication of the ECB’s twice-yearly Financial Stability Review.
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