Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  November 08, 2012 14:30:52, updated

ECB and BoE leave rates unchanged at record lows, the ECB is ready for action

ECB at its meeting today, the Board decided to remain in the setting of policy rates at current levels, which filled the vast majority of market expectations. Key repo rate remains at a record low level of 0.75%.
More details of the decision will be available after the press conference, the chief Mario Draghi ECM.

In a similar vein was marked by the decision of the Bank of England, which also interfere in setting rates as well as the program of asset purchases, which also left unchanged. Basic interest rate remains at 0.5%.

ECB chief at a press conference on the decision that the central bank remains fully committed to previously agreed operations (OMT), which should avert the possibility of extreme scenarios of the development of the crisis in the troubled country.Draghi at the address noted that the decision on the OMT registers some improvement in financial market conditions, including the return of funds previously vyvedených back to eurozone countries.

Risks regarding the further development of the economy Draghi sees on the further deepening of the recession, inflation should remain only moderate. Draghi hinted that the next prospective report will be revised estimates of key macroeconomic indicators. Board according to him, also debated on monetary issues for next year.

Relation to Spain, Draghi noted that it is only and exclusively on his decision to ask for help or not.
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