ECB delivers a new round of monetary stimulus
- 2 weeks ago
The European Central Bank will deliver a fresh round of monetary stimulus in a bid to shore up the weakening economy as it cut its growth forecast by the most since the advent of its quantitative-easing programme.
ECB president Mario Draghi announced that the euro-zone economy will now expand only 1.1% this year, a drop of 0.6 percentage point from forecasts just three months ago.
A package of help from new loans for banks to a longer pledge on record-low rates is intended to expand existing stimulus, he said.
Draghi addressed journalists by stating, “The persistence of uncertainties related to geopolitical factors, the threat of protectionism and vulnerabilities in emerging markets appears to be leaving marks on economic sentiment.”
“The risks surrounding the euro area growth outlook are still tilted to the downside.”
Source: Smart Trend Team