December ECB meeting: Improved growth outlook, but little progress on inflation

Markets, Reports, Statistics, Stock Markets — By on December 15, 2017 at 4:31 PM

Global Economic & Market Outlook – Focus Notes (Friday, December 15 2017)

December ECB meeting: Improved growth outlook, but little progress on inflation

At its regular monetary policy meeting on Thursday 14 December, as widely expected, the ECB Governing Council (GC) kept key policy interest rates unchanged and its asset purchase programme of EUR30bn (per month) intact until September 2018 or beyond if necessary, and in any case until the GC ensures a sustained adjustment in the path of inflation consistent with its medium-term target of 2.0%. The GC sounded ready to increase the size and/or the duration of the APP, should the outlook become less favorable or financial conditions are not in line with further progress towards a sustained adjustment in the path of inflation. Moreover, the Eurosystem will reinvest the principal payments from maturing securities purchased under the APP for an extended period of time after the end of net asset purchases, and for as long as necessary, contributing to favorable liquidity conditions and to an appropriate monetary policy stance.

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