The ECB Board of Governors at its regular meeting decided not to make any changes to the current monetary policy. The key rate, which determines the cost of credit in the economy of the region, remained zero, which is a record low level of this important indicator. The overnight deposit rate also remained at the same level – minus 0.4 percent per annum. By the decision of the Council, the purchase of assets will remain at least until September.
After the meeting, a press conference of the European Central Bank took place. Mario Draghi gave a speech. He gave his assessment of the situation in the Eurozone. Draghi noted that some statistics indicate signs of a slowdown in economic growth. Despite this, the region’s economy as a whole remains stable and stable. This allows us to expect to achieve the goal of consumer price growth rates in the near future.
Most analysts expect the European Central Bank to raise the base rate not earlier than next year. As for the asset purchase program, it is likely to be completed this year. Analysts note that a serious risk for the eurozone economy is the outcome of the trade dispute between the United States and China.