Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  April 04, 2013 14:33:30

ECB rates also zero movement is ready for action, the economy is weak and the beginning of the year until revived in the second half


ECB decided today, like BoE to leave rates unchanged, which fulfilled the expectations of the vast majority of the market. Basic repo rate remains at a record low level of 0.75%.

ECB chief Mario Draghi at the press conference made it clear that in the coming weeks, the central bank will closely monitor and evaluate all signals economic and monetary developments in an effort to recognize their potential impact on the outlook for price stability. If it turns out that it is necessary, the ECB is ready for further action. Any central bank's reaction would probably not go through treatment setting rates.

Risks to economic development remain rather on the decline. Are increasing signs of potential problems in overcoming the ongoing recession. Weak economic economy has shifted from the end of last year to the beginning of the new one.Significant recovery, according to Draghi in play until the second half of this year.

According to sources close to yesterday's comments Banking Council of the ECB is now the central bank is considering possible scenarios to support further decreasing the euro area economy and restore confidence in the single currency project itself, which suffered significant scars in connection with the solution of the Cyprus debt crisis.

Waiting for the ECB will react somehow to the continuing decline in activity on the private sector lending, the ECB would also like to encourage reconnecting the official and market lending rates. On the agenda will also allow further operations for liquidity support in the form of 3-year concessional loans known under the term LTRO.

Related news:
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BoJ hardens and shocks, the volume of the asset purchase ...

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