No change in the ECB’s stance

Summary

As expected, at today’s monetary policy meeting, the ECB left the key policy rate unchanged at 0.15% and took no additional steps on non-standard measures. Mr. Draghi reiterated the unanimity within the Governing Council (GC) on their willingness to use unconventional monetary policy within their mandate if necessary, pledging that they will maintain a high degree of accommodation. On the economic outlook, medium-term inflation risks remain “broadly balanced” and risks to the economic outlook continue to be to the downside.

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