ECB . The European Central Bank kept its strong monetary stimulus policy unchanged yesterday. However ECB closed the door to more interest rate cuts as inflation remained below target despite accelerated economic growth.
The central bank is moving towards buying 2.3 trillion euros ($ 2.59 trillion). It worth of bonds and charging fees from banks to keep its liquidity surplus by setting negative interest rates in a bid to reach euro zone price growth to just below 2 percent.
The Bank reiterated its main approach today. Saying that it expects key interest rates to remain at their current level for an extended period beyond the horizon of the bond purchase program.
He said bond purchases, which were cut by a quarter to 60 billion euros a month starting in April. It could increase or extended if the euro zone’s prospects deteriorate.
ECB kept the overnight deposit rate, its key interest rate instrument, at -0.40%.
Gold price today in Europe (know it know)