At the last meeting of Mario Draghi, the European entity also launched a new debt purchase program, although for an amount less than expected.
All investors were focused on Europe and the central bank meeting to see if the promise to deliver greater economic stimuli was fulfilled. And apparently the market was happy. And it is that the European Central Bank decided to cut the interest rate on the deposit facility – that banks charge for their deposits – by 10 basis points at -0.50%, in addition to reviving the purchase of assets at a monthly rate of 20,000 million euros as of November 1.
According to the minutes revealed from the last meeting of Mario Draghi in charge of the entity, the ECB indicated that "the Governing Council now expects the ECB's key interest rates to remain at their current or lower levels until it has seen that inflation prospects converge solidly at a sufficiently close level, but less than 2% within its projection horizon, and this convergence has been constantly reflected in the underlying dynamics of inflation. "
"They are expected to work for as long as necessary to reinforce the accommodative impact of their policy rates and end shortly before it begins to raise the ECB's key interest rates," he continued.
The press conference of the President of the ECB, Mario Draghi, will begin at 9:30 Chilean time, where he will give more details of the decisions. This will be the last meeting chaired by Draghi, who will transfer his position to the former IMF, Christine Lagarde.
Source link
https://www.df.cl/noticias/internacional/economia/bce-recorta-las-tasas-de-interes-por-primera-vez-desde-2016/2019-09-12/085718.html
