Mediafax (Mediafax)
Markets  |  July 29, 2012 06:13:57

The ECB will decide on monetary policy (9 November 2012)

FRANKFURT (MEDIAFAX) - The European Central Bank (ECB) on Thursday to decide on the setting of monetary policy. At its last meeting in early July the ECB is expected to cut its key interest rate to a new record low of 0.75 percent.

Deposit rate in early July, the ECB decided to reduce to zero. The ECB has made this step in an effort to help the euro area at the time of the deepening debt crisis, which block countries with the single European currency can crash into recession.

The ECB cut its key interest rate earlier in November and December, and by 0.25 percentage points.

"In my opinion, the ECB will leave rates unchanged. That rate will remain at 0.75 percent, also signal the money market. Rather, I would say that the ECB will seek to support the euro area countries.Game remains restore buy bonds of heavily indebted countries, and the ECB could say something about a banking license fund ESM, which said Wednesday the head of the Austrian central bank Nowotny, "estimated the agency Mediafax financial markets analyst at Next Finance Martin Prokop.

Annual inflation in the euro area was in June, according to the European statistical office Eurostat 2.4 percent and stays at the April level. "Inflation is likely to remain until the end of about two percent, but not undermine price stability. Economic growth remains weak and risks at the bottom of the rise," he said in early June after meeting chief Mario Draghi and the ECB also confirmed the forecast for the euro area economy this year when it expects the ECB between minus 0.5 and after growth of 0.3 percent.

With regard to the inflation forecast, it expects the ECB this year ranging from 2.3 to 2.5 percent and next year is expected to fall below the ECB's two percent target, on the range of one percent to 2.2 percent.

Eurozone economy and the whole of the European Union in the first quarter was flat QoQ. In the last quarter of last year, gross domestic product (GDP) fell qoq in the euro area and the EU, both by 0.3 percent. Year-on-the euro area economy in the first three months of this year, according to Eurostat revised down by 0.1 percent, while statisticians originally announced its stagnation. Across the European Union, the economy grew by 0.1 percent.

Thomas bunny,

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ECB bude rozhodovat o měnové politice (9.11.2012)

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