Thursday, April 21, 2016

European Central Bank keeps interest rates unchanged at 0%

The European Central Bank has kept interest rates at record lows as it waits to see if economic stimulus measures announced in March. 

The monthly council of the ECB meeting in Frankfurt has made very few changes to its program which includes 90 billion dollars per month of government bond buying.

Significantly, the ECB president Mario Draghi insisted they have no discussed so called "Helicopter money" which would see the central bank injecting cash into the real economy for the first time ever.

Interest rates in the Eurozone remain at zero and the ECB has kept the rate it costs banks to park their money in the central bank at minus nought point four percent to encourage banks to invest in business.

All the measures are intended to tackle weak growth and low inflation in the eurozone.

Mario Draghi is the ECB president.

IN: "In order ..."
OUT: "...the euro area."
DUR: 24 secs 


ALT

The ECB president Mario Draghi responded to claims pressure from Germany is mounting for him to change monetary policies.

IN: "We have a..."
OUT: "...are independent"
DUR: 21 secs